Face Amount (face Of Policy)
Definition of "Face amount (face of policy)"
Sum of insurance provided by a policy at death or maturity.
Popular Insurance Terms
Mechanism for providing coverage when the insured's underinsured motorist coverage limit is more than the tort feasor's limit of liability that has been previously reduced by claim payments ...
Legal procedure through which a court determines the rightful claimant (of two or more claimants making the same claim) against a third party. Insurance companies use interpleader if claims ...
Monetary sum paid or payable to a recipient for which the insurance company has received the premiums. ...
Amount set up as a cushion against fluctuations in securities prices. ...
Coverage for ships in port for a lengthy stay and/or those that are under repair. Insures on an all risks basis to include the exposures associated with the ship moving from one dock to ...
Standard for insurance regulation in New York State and a model for insurance regulation elsewhere. For example, the standard fire policy was first adopted in New York State. Similarly, ...
Property insurance coverage for only one of the parties having an insurable interest in that property. ...
Fidelity bond provided under a blanket position bond (in which each position is covered on an individual basis) or a commercial blanket bond (in which a loss is covered on a blanket basis ...
A person who relies on another for economic support. For insurance purposes, the following may be included: the insured's legal spouse; any unmarried children younger than a specified age ...
Have a question or comment?
We're here to help.