Definition of "Loan"
Money that is lent. In life insurance, a loan can be taken against the cash value of a life insurance policy at any time. The policyholder does not have to repay the loan until the policy matures or until the loan and any outstanding interest equals the cash value.
Popular Insurance Terms
Value in life insurance policies that entitle the insured to these choices: to relinquish the policy for its CASH SURRENDER VALUE. (Note that in the beginning years the cash value may be ...
Mathematical relationship resulting from experimentation. For example, the probability distribution for the possible number of heads from four tosses of a fair coin having both a head and a ...
Smallest face amount of life insurance that an insurance company will write on any one person. ...
Liability exposure, in insurance, associated with three classifications of individuals that may come upon an insured property: TRESPASSER: individual enters without permission. Generally ...
Coverage on an all risks basis whether the airplane is on the ground or in the air; also called hull aircraft insurance. Exclusions, although none are standard, include illegal use of an ...
Actions not allowed between a trust and a disqualified person under the employee retirement income security act of 1974 (erisa). The disallowed actions are designed to prevent a conflict of ...
Person covered under an employee benefit insurance plan. ...
Combination of several insurance companies to provide the capacity to underwrite a particular type or size of exposure. For example, liability coverage for a drug company's vaccine has been ...
Condition in which buildings are built with sealed windows resulting in poor ventilation causing occupants to experience dizziness, nausea, respiratory problems, headaches, fatigue, sinus ...
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