Ordinary Agency
Definition of "Ordinary agency"
Local life insurance office that sells and services ordinary life insurance as well as other forms of life insurance except debt insurance.
Popular Insurance Terms
Method of using reinsurance to counteract the unexpected impact of business on the policyholder surplus. ...
Trade association whose objective is to further the interests of its membership, as well as to inform the public on the role of its members. ...
Type of individual retirement account (IRA) allowed by the employees retirement income security act of 1974 (erisa) in which contributions are paid into a custodial account sponsored by a ...
Coverage on an all risks basis through an endorsement to a business property insurance policy in which each sign is specifically scheduled, subject to the exclusions of wear and tear, and ...
Amount subtracted from an annuity or from mutual fund proceeds payable to an annuity owner or mutual fund owner to reflect expense fees described in the annuity contract or mutual fund ...
Assessment mutual company that operates on a statewide basis or in more than one state. Assessable or assessment mutuals operate by taking a cash deposit, or premium, from members in ...
Endowment period of time, in life insurance, at which the face amount of the policy is payable to the insured. ...
Contractor's and Architect's Errors and Omissions Insurance, which also serves as a general liability policy for these professionals. ...
Property, liability, or health coverage above the primary amount of insurance. For example, the primary coverage is $100,000 and the excess insurance is $1 million. After the losses exceed ...
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