Life insurance: Premiums are typically determined by factors such as age, health, and coverage amount. Who pays for the policy may also impact the insurance premium rate. For example, if your employer is part of a group insurance plan and you enroll in one of the offered policies, your org...
aTerm insurance functions in a manner similar to most other types of insurance in that it satisfies claims against what is insured if the premiums are up to date and the contract has not expired, and does not expect a return of Premium dollars if no claims are filed. 定期保险作用有些相似...
The premium is the basis of your insurance payment. An insurance premium may be considered taxable income to you in certain cases (for example, coverage for group-term life insurance that exceeds $50,000 and is carried directly or indirectly by an employer).1 Service fees may also be added ...
Depending on the insurer, you may choose to pay your insurance premium monthly, every six months, or annually. You're responsible for paying your car insurance premiums in order to maintain your insurance coverage. If your premiums are too high, you may be able to lower your costs by adjust...
正确答案:(正确答案:(1)Insurable interest holds that noone may insure anything unless he has an interest init,which means that if the thing insured is preserved hewill derive a benefit from its preservation,but if it is inany way damaged or lost the assured will be adverselyaffected. (2)Eve...
During the binding period, which is usually a limited period of time, the insured is covered under certain specified terms and conditions. This means that in the event of a covered loss or claim, the insurance company will provide the necessary financial protection as outlined in the temporary ...
Fiduciary Duty:Agents with implied authority owe a fiduciary duty to the insurance company and its policyholders. This means that they are legally obligated to act in the best interests of their principal, avoiding conflicts of interest and prioritizing the welfare of the company and its policyhold...
Term life insurance provides coverage for a set period of time, typically from five to 30 years. The insurance company pays a benefit to your beneficiary if you die within this term.
Written premium is an accounting term in theinsuranceindustry used to describe the total amount that customers are required to pay for insurance coverage on policies issued by a company during a specific period of time. Written premiums factor in the amount ofpremiumcharged for a policy that has ...
Spouse and children's term life insurance riders: pays if a spouse or child covered under your life insurance policy dies Waiver of premium rider: pays your policy premium if you become permanently and totally disabled Guaranteed insurability: provides an option to buy additional coverage in the ...