First-dollar Coverage
Definition of "First-dollar coverage"
Insurance policy under which payment is made for a loss not subject to any deductible or under which payment is made up to the limits of the policy, and then an excess insurance policy takes effect. For example, a homeowners insurance policy section II (liability coverage) would pay up to its limits for an insured loss, whereupon an umbrella liability insurance policy would go into effect.
Popular Insurance Terms
Set of yield curves in which an interest rate is specified for various maturities such as monthly, quarterly, or annually. The basis of the interest rate can be corporate bond rates, United ...
Coverage for accidental injury, accidental death, or sickness; also called Accident and Sickness Insurance. Benefits include paid hospital expenses, medical expenses, surgical expenses, and ...
Annuity payments that continue for the life of the annuitant. ...
Grouping of applicants for life insurance according to expected mortality, so as to produce an underwriting classification in which the spread between health of the worst and best applicant ...
Phrase used to describe a method of annuity payout that guarantees a specified number of years, regardless of whether an annuitant remains alive. ...
Reinsurance ceded to an insurance company that is a non admitted insurer. ...
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coverage on the bank's premises for burglary of monies, securities, and other properties from within the bank's safe (s); robbery of monies and securities; loss of monies and securities as ...
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