30+ Life Insurance Terminology And Definitions Pics
30+ Life Insurance Terminology And Definitions Pics. Life insurance (or life assurance, especially in the commonwealth of nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium. Insurance company (insurer ) :
Life Insurance Lingo: 8 Terms Everyone Should Know from blogs-images.forbes.com American association of insurance services (aais). A rider in a life insurance policy that, in the event of an insured's total disability, the insurer will waive payment of premiums falling due during the period of disability. You choose the term when you take out the policy.
A glossary containing definitions of life insurance terminology such as whole, term, universal, and variable life insurance of insurance terms provides descriptions of insurance terms.
In motorcycle insurance, a rider is someone who will operate the insured motorcycle. Unless you're fluent in the intricacies of floaters or fortuitous events, it can be difficult to decipher what your policy means. That money may help them cover things like unpaid medical expenses, funeral expenses and loss of income. Life insurance also has a legal definition in the united states.
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