Policy terms and definitions:You may see a separate section in your life insurance contract that breaks down terms and definitions, including death benefit, premium, beneficiary, and insurance age. Your insurance age may be your actual age or the nearest age assigned to you by the life insurance...
Terms starting with GGuaranteed Renewable Policy A Guaranteed Renewable Policy is a type of insurance policy that guarantees the policyholder the right to renew the policy at the end of the policy term, without any change... Read More about Guaranteed Renewable Policy Grace Period A Grace ...
For instance, a health policy may define such terms as outpatient procedure or preexisting condition. These definitions are generally followed by three lists: covered items, exclusions, and conditions. The list of covered items states each type of incident or event for which coverage will be ...
1.Definitionsoftheterms ▪Theinsured–theonewhopaystheinsurancecompanyforthecoverageofrisksofthecargo ▪Theinsurer–theinsurancecompanythatagreestomakepaymentincaseoflossordamageoccurredtotheinsured ▪Insurancepolicy–thecontractbetweentheinsuredandtheinsurer ▪Premium–thesumofmoneytheinsuredpaystotheinsurerfor...
designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section...
An insurance policy is an example of such a contract. The insurer offers a personal auto policy, for example, that an individual may adhere to (or not) but in any case the individual may not change any of its terms. Because it has the stronger position, the insurance company has the ...
Main Page of the Home Terms, Dictionary and Glossary. This site contains thousands of mortgage and insurance term definitions and their related meanings.
Insurance agreement:Outlines exactly what you and your insurer have agreed to regarding coverage, including terms, conditions and exclusions. Definitions:defines any key terms used in the policy. Coverage sections:May go into more detail about the specific types of coverage you’ve purchased, includin...
Policy forms Think of the policy as the umbrella that the declarations page falls under. Related Terms Here are some other terms you might find useful when navigating your car insurance policy. Insurance Policy Your insurance policy is a contract between you, the insured, and your insurance compa...
In the event an insurance policy aggregate is exhausted, or believed likely to be exhausted, due to noticed claims, the Arlo Group, on the one hand, the Parent Group, on the other hand, shall be responsible for their pro rata portion of the reinstatement premium, if any, based upon the...