Home - Protect yourself with our insurance informations

Protect yourself and your wallet with insurance specialists

Insurance informations center

Protégez vous version françaiseFrançais


Synonyms : Assurance, warranty, warrant, policy, indemnity, protection, backing, collateral, endorsement, pledge, promise, insurances

Insurance : Insurance is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a potential loss, from one entity to another, in exchange for a premium. Insurer, is the company that sells the insurance. The insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage. Risk management is the practice of appraising and controlling risk.

(You will find below a useful glossary about insurance)
Other topics of interest
Insurances quotes and specialty group
Real estate and housing
Housing counseling agencies can give you advice about buying a home. Discuss the process with your real estate agent.
Healthy living to protect yourself Healthy Living
The leading source for trustworthy and timely health and medical information for healthy living.
Car insurance, life insurance, home insurance to protect your assetsInsurance
Important insurance informations for you and your family, home, car, life, choosing a health plan
Financial products and services to achieve financial wealthFinancial products and wealth
Find principles on becoming an astute money manager from budgeting to investing.
Swimming pool and Spa maintenance and repairSwimming pool and Spa
Questions to ask a builder before buying a swimming pool, a hot tub or Spa
Home security and alarm system Home security
Home security systems, burglar alarms, home security monitoring, find the answer.
Heating and air conditioning
Begin enjoying better, cleaner air today. You’ll find where and how to buy a system suited for you.
Alternative energy, green energy wind mill, solar energy, hybrid car, renewable energy Alternative, green and renewable energy
Find the premiere retailers of renewable energy goods. All the expertise for the Do-It-Yourselfer.
Vacation and travel protectionVacation and travel
Find travel advise, personal attention and exceptional value on vacation travel worldwide.
Outdoor activities and sports reference centerOutdoor activities and sports
Outdoor activities with the brood should be a joy, not a hassle. It all depends on how well you plan.
Shipping companies
Research country specific information and requirements that may affect your shipment.
Botanical gardens worldwideBotanical gardens worldwide
Botanical informations on a variety of personalized services and products for gardening.
Reference center and directoriesDirectories and reference center
Learn how to advertise and how to get the most form the top directories in the Web Directory industry.
Learn more about exclusive banner advertising on this page
Google
Home
Contact us
Privacy

GLOSSARY OF INSURANCE TERMS

ACCIDENT AND HEALTH INSURANCE
Coverage for accidental injury, accidental death, and related health expenses. Benefits will pay for preventative services, medical expenses and catastrophic care, with limits.

BENEFICIARY
The person or legal entity the owner of an insurance policy names to receive the policy benefit if the event insured against occurs. (Use the search above to know more about Annuity beneficiary; Contingent beneficiary; Irrevocable beneficiary)

CATASTROPHE DEDUCTIBLE
A percentage or dollar amount that a homeowner must pay before the insurance policy kicks in when a major natural disaster occurs. These large deductibles limit an insurer’s potential losses in such cases, allowing it to insure more property. A property insurer may not be able to buy reinsurance to protect its own bottom line unless it keeps its potential maximum losses under a certain level.

DEATH BENEFIT
For a life insurance contract, the amount of money paid by an insurer to a beneficiary when a person insured under the life insurance policy dies. For an annuity contract, the amount of money paid to a beneficiary if the contract owner dies before the annuity payments begin.

EMPLOYMENT PRACTICES LIABILITY COVERAGE
Liability insurance for employers that covers wrongful termination, discrimination and other violations of employees’ legal rights.

FAMILY BENEFIT COVERAGE
A type of supplementary benefit rider offered in conjunction with a life insurance policy that insures the lives of the insured’s spouse and children. Also known as dependent life insurance and spouse and children’s insurance rider.

GRADUATED DRIVER LICENSES
Licenses for younger drivers that allow them to improve their skills. Regulations vary by state, but often restrict nighttime driving. Young drivers receive a learner’s permit, followed by a provisional license, before they can receive a standard driver’s license.

HOMEOWNERS INSURANCE POLICY
The typical homeowners insurance policy covers the house, the garage and other structures on the property, as well as personal possessions inside the house such as furniture, appliances and clothing, against a wide variety of perils including windstorms, fire and theft. The extent of the perils covered depends on the type of policy. An all-risk policy offers the broadest coverage. This covers all perils except those specifically excluded in the policy.
Homeowners insurance also covers additional living expenses. Known as Loss of Use, this provision in the policy reimburses the policyholder for the extra cost of living elsewhere while the house is being restored after a disaster. The liability portion of the policy covers the homeowner for accidental injuries caused to third parties and/or their property, such as a guest slipping and falling down improperly maintained stairs. Coverage for flood and earthquake damage is excluded and must be purchased separately. (Use the search above to know more about: Flood insurance; Earthquake insurance)

INSURABLE RISK
Risks for which it is relatively easy to get insurance and that meet certain criteria. These include being definable, accidental in nature, and part of a group of similar risks large enough to make losses predictable. The insurance company also must be able to come up with a reasonable price for the insurance.

JOINT AND SURVIVOR ANNUITY
An annuity with two annuitants, usually spouses. Payments continue until the death of the longest living of the two.

KEY PERSON INSURANCE
Insurance on the life or health of a key individual whose services are essential to the continuing success of a business and whose death or disability could cause the firm a substantial financial loss.

LIABILITY INSURANCE
Insurance for what the policyholder is legally obligated to pay because of bodily injury or property damage caused to another person.

MEDICAL PAYMENTS INSURANCE
A coverage in which the insurer agrees to reimburse the insured and others up to a certain limit for medical or funeral expenses as a result of bodily injury or death by accident. Payments are without regard to fault.

NOTICE OF LOSS
A written notice required by insurance companies immediately after an accident or other loss. Part of the standard provisions defining a policyholder's responsibilities after a loss.

OCEAN MARINE INSURANCE
Coverage of all types of vessels and watercraft, for property damage to the vessel and cargo, including such risks as piracy and the jettisoning of cargo to save the property of others. Coverage for marine-related liabilities. War is excluded from basic policies, but can be bought back.

PERSONAL INJURY PROTECTION COVERAGE / PIP
Portion of an auto insurance policy that covers the treatment of injuries to the driver and passengers of the policyholder’s car.

QUALIFIED ANNUITY
A form of annuity purchased with pretax dollars as part of a retirement plan that benefits from special tax treatment, such as a 401(k) plan.

RENEWABLE TERM INSURANCE POLICY
A term life insurance policy that gives the policy owner the option to continue the coverage at the end of the specified term without presenting evidence of insurability, although typically at a higher premium based on the insured’s attained age.

SELF-INSURANCE
The concept of assuming a financial risk oneself, instead of paying an insurance company to take it on. Every policyholder is a self-insurer in terms of paying a deductible and co-payments. Large firms often self-insure frequent, small losses such as damage to their fleet of vehicles or minor workplace injuries.

TERM LIFE INSURANCE
A form of life insurance that covers the insured person for a certain period of time, the “term” that is specified in the policy. It pays a benefit to a designated beneficiary only when the insured dies within that specified period which can be one, five, 10 or even 20 years. Term life policies are renewable but premiums increase with age.

UNIVERSAL LIFE INSURANCE
A flexible premium policy that combines protection against premature death with a type of savings vehicle, known as a cash value account, that typically earns a money market rate of interest. Death benefits can be changed during the life of the policy within limits, generally subject to a medical examination. Once funds accumulate in the cash value account, the premium can be paid at any time but the policy will lapse if there isn’t enough money to cover annual mortality charges and administrative costs.

VARIABLE LIFE INSURANCE
A policy that combines protection against premature death with a savings account that can be invested in stocks, bonds, and money market mutual funds at the policyholder’s discretion.

WATER-DAMAGE INSURANCE COVERAGE
Protection provided in most homeowners insurance policies against sudden and accidental water damage, from burst pipes for example. Does not cover damage from problems resulting from a lack of proper maintenance such as dripping air conditioners. Water damage from floods is covered under separate flood insurance policies issued by the federal government.

XXX REGULATION
The National Association of Insurance Commissioner’s current model valuation law for life insurance policies, adopted in March 1999. The law tells insurance companies how much they should hold as a reserve for each term life insurance policy. The model has been adopted by most of the states.

YEARLY RENEWABLE TERM (YRT) INSURANCE
One-year term life insurance that is renewable at the end of the policy term. Also known as annually renewable term (ART) insurance.

401(K) PLAN
An employer-sponsored retirement savings plan funded by employee contributions, which may or may not be matched by the employer. Federal laws allow employees to invest pretax dollars, up to a stated maximum each year.

Have you visited these sites !
AlfaSurf, filiale de Alfa inc. border=
           
Vote or visit other Alfa's web sites
Top 10 links: Increase your trafic with top links
Usopo Vote