Variable Limit
In property insurance coverages, provision whereby the limit of the policy automatically increases at each policy anniversary date, subject to the insured's rejection of such an increase. The objective of the variable limit is to increase the amount of coverage in tandem with the annual increase in the inflation rate so as to prevent less than adequate coverage in the event of a loss.
Popular Insurance Terms
Total of operating income plus realized capital gains (losses) from investment and underwriting operations minus federal income taxes. ...
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Series of payments made on either a FIXED DOLLAR ANNUITY basis or VARIABLE DOLLAR ANNUITY basis. ...
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