Nonsmoker
Health characteristic considered by an insurer underwriting an applicant for life or health insurance. Many insurance companies charge reduced premiums for nonsmokers.
Popular Insurance Terms
Same as term Builders Risks Forms: types of contracts that insure building contractors for damage to property under construction. The completed value form requires a 100% coinsurance ...
Measure of the rate at which policies are cancelled or allowed to lapse. The termination rate is a factor in setting premiums for group life and health policies. ...
Amendment to a will that adds or modifies clauses in that will, such as adding an additional beneficiary or piece of property. ...
System whereby benefits in an employee benefit insurance plan vary according to the employee's earnings. ...
Several different types of perils covered under one policy. ...
Agent who is licensed and who markets and services insurance policies in a state in which he or she is not domiciled. ...
Protection under the auspices of the federal government where such insurance cannot be purchased by a homeowner, business owner, or tenant at affordable community rates. A homeowner's or ...
Supplementary life insurance reserve required by state regulators when the gross premium is lower than the valuation premium. Some life insurers are able to charge policyholders a premium ...
Coverage for a common carrier (the insured) for damage or destruction due to radioactive contamination from commercial radioisotopes of a property in the custody of the insured or that of a ...
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