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Actived: Friday Jan 22, 2021
Insurance Definition - investopedia.com
Details: Least Expensive Alternative Treatment (LEAT): A clause in an insurance policy that indicates that the insurer will only cover the least expensive option for treatment, repair, or remediation. The
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Insurance: The Complete Guide - Investopedia
Details: Essential Health Benefits: A set of benefit requirements that must be included in certain health insurance plans. Essential health benefits comprise 10 general benefit categories, which must be
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A Brief Overview of the Insurance Sector
Details: J. Harold Chandler: The current COO of Univers Workplace Benefits and a former president, CEO and chairman of disability insurance provider Unum Provident. In 1993, Chandler became president and
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4 Types of Insurance Everyone Needs - Investopedia
Details: Auto Insurance . There were 6.7 million car accidents in the U.S. in 2018, according to the National Highway Traffic Safety Administration. An estimated 38,800 people died in car crashes
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Health Insurance Definition
Details: Disease Management Program: A program offered by a health insurance company to manage the costs of policyholders’ chronic health conditions. Disease management programs can help control health
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Homeowners Insurance Definition
Details: Wedding Presents Floater: A type of insurance that can be added to a renter's or homeowner's insurance policy to temporarily cover the value of the gifts a couple receives when they get married
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Homeowners Insurance Guide: A Beginner's Overview
Details: Attractive Nuisances: An item, located on a property, that is appealing but potentially hazardous, especially to children. Attractive nuisances can lead to expensive injuries and pricey lawsuits
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Insurance Premium Definition
Details: An insurance premium is the amount of money an individual or business must pay for an insurance policy. Insurance premiums are paid for policies that cover healthcare, auto, home, and life insurance.
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Buying Private Health Insurance - Investopedia
Details: A premium is the amount of money an individual or business pays to an insurance company; health insurance premiums are typically paid monthly.
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Insurance, Excess Insurance, and Reinsurance
Details: Coincidental Excess Coverage: Insurance coverage that provides excess coverage for a specified event or circumstance. Coincidental excess coverage will only apply under certain circumstances, and
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Coinsurance Definition
Details: Copay plans may make it easier for insurance holders to budget their out-of-pocket costs because it is a fixed amount. Coinsurance usually splits the costs with the policyholder 80/20 percent.
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Life Insurance Guide to Policies & Companies
Details: Wisconsin State Life Fund: A life insurance distribution system available to residents of Wisconsin. The Wisconsin State Life Fund is a state-sponsored life insurance program. The state of
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What Is Reinsurance? - Investopedia
Details: Peter J. Creedon, CFP®, ChFC®, CLU® Crystal Brook Advisors, New York, NY Reinsurance is a way a company lowers its risk or exposure to an untoward event. The idea is that no insurance company
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Insurance Claim Definition - investopedia.com
Details: Validation Period: The amount of time necessary for the premium on an insurance policy to cover the commissions, the cost of investigation, medical exams and other expenses associated with the
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15 Insurance Policies You Don't Need - Investopedia
Details: Insurance coverage is the amount of risk or liability covered for an individual or entity by way of insurance services. more What Is Combined Physical Damage Coverage?
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Insurance Coverage Definition - investopedia.com
Details: Boom Coverage: An endorsement to a policy ensuring contractor’s equipment that provides coverage for damage caused by cranes. Boom coverage is an add-on feature of the policy, and accepting this
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What Is Gap Insurance?
Details: Gap insurance is a type of auto insurance that car owners can purchase to protect themselves against losses that can arise when the amount of compensation received from a total loss does not fully
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Reinsurance: Insurance for the Insurer
Details: Time And Distance Policy: A reinsurance treaty in which a ceding insurer transfers a lump sum of its premiums to a reinsurer, and over time is returned a portion of the unused premiums. Time and
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What is Term Insurance? - Investopedia
Details: Term insurance is a type of life insurance policy that provides coverage for a certain period of time or a specified "term" of years. If the insured dies during the time period specified in the
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Life Insurance vs. Annuity: What's the Difference?
Details: Life Insurance vs. Annuity: An Overview . At first glance, permanent life insurance policies and annuity contracts exhibit polar opposite goals. While life insurance seeks to provide an individual
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Insurance Proceeds Definition
Details: Insurance proceeds are benefits paid out on insurance policies as a result of an insurance claim. The proceeds received from an insurance policy are used to cover any financial losses resulting
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The Importance of Property Insurance
Details: Liability insurance covers repair and financial restitution to someone else besides the individual at fault in an accident. For example, the person at fault’s liability insurance pays car
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Directors and Officers Liability Insurance: Overview
Details: Runoff insurance is an insurance policy provision that covers claims made against companies that have been acquired, merged, or have ceased operations. more Broadcasters Liability Insurance
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Hole-In-One Insurance - Investopedia
Details: Hole-In-One Insurance: A product that offers financial protection to golf tournament sponsors offering expensive prizes to contest winners. Hole-in-one insurance is a type of prize indemnification
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Umbrella Insurance Policy Definition
Details: An umbrella insurance policy is a type of personal liability coverage that goes above and beyond the amount that regular home or vehicle insurance offers.
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Life Insurance: Why You Need It - Investopedia
Details: Charitable Split-Dollar Insurance Plan: Identical to a standard split-dollar insurance plan, except that a charity, instead of an employer, owns the life insurance policy. Charitable split-dollar
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Excess of Loss Reinsurance Definition
Details: Excess of loss reinsurance is a form of non-proportional reinsurance.Non-proportional reinsurance is based on loss retention. With non-proportional reinsurance, the ceding company agrees to accept
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Cross-Liability Coverage Definition
Details: An insurance claim is a formal request by a policyholder to an insurance company for coverage or compensation for a covered loss or policy event. The insurance company validates the claim and
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Business Insurance - investopedia.com
Details: Business insurance refers broadly to a class of insurance coverage intended for purchase by businesses rather than individuals. Businesses seek insurance to cover potential damage to property, to
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Pet Insurance Definition - Investopedia
Details: Pet Insurance: A policy purchased by the owner of a pet that will lessen the overall costs if expensive medical bills are incurred by that pet. This is similar to health insurance policies except
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Are Insurance Companies and Pension Funds Considered
Details: For the policyholder, an insurance policy is a contract with the insurance company. It involves ownership. Insurance policies also have a specified value. Thus, while most insurance policies are
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Assurance Definition
Details: A term life insurance policy, however, covers a fixed period—such as 10, 20, or 30 years—from the policy's purchase date. If the policyholder dies during that time, the beneficiary receives
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How to Get Health Insurance - Investopedia
Details: Online health insurance brokerage—also called private enrollment websites or private exchanges—offers to help you compare health insurance plans or get the best available plan based on the
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Errors and Omissions Insurance (E&O) Definition
Details: Errors And Omissions Insurance - E&O: Errors and omissions insurance (E&O) is a type of professional liability insurance that protects companies and their workers or individuals against claims
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5 Types of Private Mortgage Insurance (PMI)
Details: Private Mortgage Insurance - PMI: Private Mortgage Insurance (PMI) is a special type of insurance policy, provided by private insurers, to protect a lender against loss if a borrower defaults
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Long-Term Care (LTC) Insurance Definition
Details: Long-Term Care (LTC) Insurance: Coverage that provides nursing-home care, home-health care, personal or adult day care for individuals above the age of 65 or with a chronic or disabling condition
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Underinsurance Definition
Details: A health insurance premium is an upfront payment made on behalf of an individual or family in order to keep their health insurance policy active. more Actuarial Value Definition
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All-In Coverage Definition - Investopedia
Details: All-In Coverage: A type of insurance coverage that applies to communally used features in residential multi-family buildings as well as the structures inside the individual units. All-in coverage
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Whole Life Insurance Definition
Details: Viatication: The selling of a life insurance policy by a terminally ill person, so that person can receive a benefit from the policy while still alive and the purchaser of the policy can receive a
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What Is and Isn’t Covered by Homeowners Insurance
Details: Insurance coverage is the amount of risk or liability covered for an individual or entity by way of insurance services. more Fire Insurance: When Homeowners Insurance Coverage Isn't Enough
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Bond Insurance Definition
Details: Bond insurance is a type of insurance purchased by a bond issuer to guarantee the repayment of the principal and all associated scheduled interest payments to the bondholders in the event of default.
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Tiny House Insurance: How to Insure Your Tiny Home
Details: An insurance claim is a formal request by a policyholder to an insurance company for coverage or compensation for a covered loss or policy event. The insurance company validates the claim and
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Reinsurance Ceded Definition
Details: Special Acceptance: The extension of coverage for a peril that is not generally covered in a reinsurance treaty. Special acceptance requires the creation of a separate agreement between the ceding
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Takaful Definition
Details: Takaful is a type of Islamic insurance wherein members contribute money into a pool system to guarantee each other. Takaful-branded insurance is based on sharia or Islamic religious law and covers
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Second-To-Die Insurance
Details: Second-to-die insurance is a type of life insurance on two people (usually married) that provides benefits to the beneficiaries only after the last surviving person on the policy dies. This
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The 7 Best Jewelry Insurance Companies of 2021
Details: Like other types of insurance for a boat or a car, jewelry insurance is a financial product that provides coverage for the item at hand. With jewelry insurance, you can pay an annual premium for a
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Spot Reinsurance Definition - Investopedia
Details: Spot Reinsurance: A reinsurance agreement that covers a single peril. Spot reinsurance is a used in facultative reinsurance agreements, and allows a ceding company to obtain reinsurance coverage
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