Definition of "Worry"
State of anxiety and distress. One goal of adequate insurance is to eliminate, or alleviate, worry on the part of a policyholder. Many people, for example, are concerned that they would not be able to handle the financial burden if they became ill, or that their spouse would be impoverished if they died. Insurance is designed to eliminate these concerns by assuring that benefits will be provided.
Popular Insurance Terms
Payment by an insurance company to a damaged or destroyed business to hasten its return to normal business operations. For example, if a kitchen of a restaurant is damaged by fire, the ...
Same as term Deviated Rate: rates used by a property and casualty insurance company that are different from that suggested by a rating bureau. An insurance company may use deviated rates ...
Clause included in or attached to a fidelity bond designed to pay the losses that would have been paid under another specific bond had that specific bond's period of discovery not expired. ...
Limit allowed by law on employee salary reduction plans. Many pension plans, as well as the popular 401 (k) plan, allow employees to set aside pre-tax dollars in a company-sponsored ...
Resulting when all possible outcomes from all the events being studied have been considered. ...
Endorsement to a homeowners insurance policy or a personal automobile policy (pap) that covers physical damage to a snowmobile wherever it happens to be. Coverage can be on named peril or ...
Type of pension plan under which a retirement annuity is purchased at the time of retirement of the employee, funded by means of a single premium payment made to the insurance company. ...
Coverage for a practicing physician, surgeon, or dentist, when bodily injury, personal injury, and/or property damage is incurred by a patient and the patient sues for injuries and/or ...
Social insurance that provides benefits to temporarily disabled workers in a few states. Five states require employers to pay cash benefits if workers are disabled. They are Rhode Island, ...
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