Condition
Action (s) that the insured must take, or continue to take, for the insurance policy to remain in force and the insurance company to process a claim. For example, the insured must pay the premiums when due, notify the insurance company as soon as possible in the case of an accident, and cooperate with the company in defense of the insured in case of a liability suit.
Popular Insurance Terms
Plan under which an employee may make a rollover contribution. If that contribution is from a qualified trust, the employee may make rollover contributions to an employer's qualified trust, ...
Agreement by the insurance company to keep the universal life insurance policy in force, even if the cash value becomes zero or less than zero, provided that a specified minimum ...
Policy under which the insurer will pay the actual cash value of the property at the time the property was damaged or destroyed provided the loss falls within the limitations of the policy. ...
Total amount of commissions and expense allowances paid by the reinsurer to its ceding company minus the total amount of reinsurance commissions and expense allowances that, in turn, its ...
Latin phrase for "The facts speak for themselves." This is a rule of evidence under which an individual is deemed, under certain specific circumstances, to be negligent by the mere ...
Insurance for accountants covering liability lawsuits arising from their professional activities. For example, an investor bases a buying decision on the balance sheet of a company's annual ...
Insurance policy that combines the characteristics of a debit insurance policy with that of an ordinary life insurance policy. These policies were historically sold by the debit agent. ...
Plan under the employee retirement income security act of 1974 (ERISA) for employees who are less than 50% vested. An employee must be permitted to buy back retirement benefits lost because ...
Type of guaranteed insurance contract in which the term is fixed, the rate is fixed, and the contract owner does not participate in the insurance company's earnings. ...
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