Life insurance

Life insurance

Industry: Insurance

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Life insurance

whole life insurance

Insurance; Life insurance

Life insurance which might be kept in force for a person's whole life and which pays a benefit upon the person's death, whenever that might be.

exposure

Insurance; Life insurance

Measure of vulnerability to loss, usually expressed in dollars or units.

extended replacement cost

Insurance; Life insurance

This option extends replacement cost loss settlement to personal property and to outdoor antennas, carpeting, domestic appliances, cloth awnings, and outdoor equipment, subject to limitations on ...

file-and-use rating laws

Insurance; Life insurance

State-based laws which permit insurers to adopt new rates without the prior approval of the insurance department. Usually insurers submit their new rates with supporting statistical data.

financing entity

Insurance; Life insurance

Provides money for purchases.

floater

Insurance; Life insurance

A separate policy available to cover the value of goods beyond the coverage of a standard renters insurance policy including movable property such as jewelry or sports equipment.

future purchase option

Insurance; Life insurance

Life and health insurance provisions that guarantee the insured the right to buy additional coverage without proving insurability. Also known as "guaranteed insurability option."