Commission
Definition of "Commission"
Fee paid to an insurance salesperson as a percentage of the premium generated by a sold insurance policy.
Popular Insurance Terms
Reduction in automobile insurance rate for a student with a good academic record. Some statistical studies suggest that good students have fewer automobile accidents. ...
Applications for insurance coverage that have been forwarded to an insurer but not yet processed. ...
Agreement prepared by an insurance company and offered to prospective insureds on a take-it-or-leave-it basis. If the contracts are misinterpreted by insureds, courts have ruled in their ...
Clause in an insurance policy that describes the administration and submission of claims procedure. ...
Will written totally in the handwriting of that individual whose name appears on the will. ...
Federal regulation of the money supply through changing commercial bank reserve requirements and interest rates, thereby stimulating the economy or deflating the economy. ...
Same as term Commercial Health Insurance: coverage that provides two types of benefits, disability income (DI) and medical expenses. Sold by insurance companies whose business objective is ...
Kindling intentionally set in a fireplace, stove, furnace, or other containment that has not spread beyond it. Property insurance does not protect against damage from a friendly fire. For ...
Inability of the insured to perform one or more of the important daily duties of that insured's occupation. The income payment to the insured is reduced from that of total disability. ...
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