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Life Insurance Articles
Viatical Settlement Provider
Viatical Settlement Provider
The word viatical comes from the Latin word “viaticus”, meaning “provisions for a long journey”. A viatical settlement is defined as the transfer or sale of a life insurance death benefit to another person or another company if the
Variable Universal Life Insurance
Variable Universal Life Insurance
This type of policy is more likely suited for people who take the driver’s seat while riding a car. The feature of Variable Universal Life Insurance (VUL) is a combination of Variable life and Universal life insurance. It offers
Acceptance
Acceptance
The terminology “acceptance” refers to a person’s conformity in order to experience a circumstance, following a procedure or condition without the attempt to modify, alter, exit or protest it. Acceptance as one notion shows in the Eastern religious perceptions like human
Variable Annuitization
Variable Annuitization
For people searching for ways to save for retirement, aside from 401k plan or an IRA may opt to invest in an annuity. The term annuity provides all the benefits of a taxed-deferred growth as well as professional money
Accumulated Amount
Accumulated Amount
The total amount initially invested into the insurance account plus the calculated sum of the interests earned for the whole duration of the account is termed in insurance as the accumulated amount. It can be sufficiently stated that it
Accidental Means
Accidental Means
Accidents are unexpected turn of events, very common to cause bodily injuries, of which the severity is a relative basis for insurances. This kind of occurrence should be proven to be unintentional so as to be acknowledged by the
Named Perils
Named Perils
The subject matter is classified as a terminology in property insurance referring to the policies which offers coverage just merely for loss which is caused by the perils being listed specifically as covered. It is distinguished with the all risks
Non Recourse Mortgage
Non Recourse Mortgage
A non recourse mortgage is a type of home loan wherein the borrower has to pay exactly the same amount of the property when the time that the loan is being paid off and nothing else more. The
Peril
Peril
Peril is classified as the specific risk and/or cause of the loss which is covered by an insurance plan. Examples of this are: windstorm, flood, theft or fire. A “named-peril” covers up the policyholder for only the risks being named on
Replacement Cost Definition
Replacement Cost is the total sum of the replacement of all damaged properties with the same worth or quality.
Replacement Cost is the total sum of the replacement of all damaged properties with the same worth or quality.
Accelerated Depreciation
Accelerated Depreciation
In order to secure tax credits on assets faster, the idea of accelerated depreciation has been practiced. Basically, accelerated depreciation permits the owner to take bigger write-offs for the depreciation of chosen properties and goods early on, with the
Ad Valorem
Ad Valorem
Ad Valorem is a legal term which is a Latin word meaning “according to value”. An ad valorem tax is defined as a tax on a personal property, real estate and a specific item. The figure is expressed in
Additional Living Expense Loss
Additional Living Expense Loss
Additional living expense or loss of usage is usually a primary concern of an insured following right after a loss of a property and is basically the first dollars paid in a homeowner policy. A homeowner insurance policy
Adhesion Insurance Contract
Adhesion Insurance Contract
Whether we know it or not by name, most of us have affixed a signature of at least one adhesion contract in our adult lives. An insurance policy is classified to be an adhesion contract including an apartment
Total Annual Loan Cost
Total Annual Loan Cost
Total annual loan cost, or TALC, is defined as an estimate of a reverse mortgage’s interest price, which includes home escalation amounts, as well as annuity premiums. It is considered as the average annual combined cost of
Total Loss
Total Loss
In business, a loss signifies a state when the company is not able to generate sufficient revenue to cover its total expenses in line with the business operations. This means that the business expenses exceed its revenues or income,
Residual Benefit
Residual Benefit
Insurances are provided for the purpose of safeguarding the financial interest of an individual for future losses. One of the most important types of insurance that the working population should have is the disability insurance. This type of insurance
Risk Management
Risk Management
Risk Management is described as a logical approach that is geared towards eliminating and minimizing the risk level closely related to the world of business operation. It is the process of identifying, analyzing and acceptance and lessening of any uncertainty
Risk Retention Group
Risk Retention Group
Insurance industry is a vast business world composed of individuals, partners and groups offering different types of insurance policies for continues operation. One of these is the Risk Retention Group Risk retention group is one type of insurance enterprise
State of Domicile
State of Domicile
State of domicile can be defined as the state in which the insurance company is chartered and licensed to operate under the state’s insurance regulations and statutes. A company is permitted by its state of domicile to operate
Accident and Sickness Insurance
Accident and Sickness Insurance
Take a crack at imagining on how your household may cope up financially if your income can be lost or compromise because of your engagement to an accident or yourself getting sick and that you are momentarily
All about Accident and Health Insurance
All about Accident and Health Insurance
Investing on insurance is one thing that you must take into consideration especially in times of crisis. Sometimes, it is important to anticipate things than to be sorry. However, one must take the initiative to
Successive Periods
Successive Periods
In insurance, successive periods happen when hospital confinements in hospital income protections are considered a portion of the same confinement period because such are due to related or the same grounds and are divided by a smaller amount of
Insurance: Tort
Insurance: Tort
Under common law, a tort refers to a wrong act committed to someone as a violation of civil duties that do not arise from statutes or contracts. It is distinguished from wrongdoings executed contravening the duty due to the
Utilization
Utilization
The word utilization is a numerical idea and an initial measure in business for the rental realm. In terms of equipment rental firms, utilization is an initial means whereby the performance asset is estimated and business progress is established. In
Waiting Period
Waiting period refers to the time between the period of registration filing with the SEC and the time of the declaration of the registration statement effective by the SEC. It is also known as “quiet period” and sometimes “cooling-off period”. In
Waiting period refers to the time between the period of registration filing with the SEC and the time of the declaration of the registration statement effective by the SEC. It is also known as “quiet period” and sometimes “cooling-off period”. In
Addendum
The word addendum originates from the Latin word addere which means “to add”. Therefore, an addendum is an addition to any piece of writing, it may be a book, a document or a publication which modifies, adds and classifies a
The word addendum originates from the Latin word addere which means “to add”. Therefore, an addendum is an addition to any piece of writing, it may be a book, a document or a publication which modifies, adds and classifies a
Additional Car
Additional Car
There are several reasons why people tend to buy additional cars. A person may buy another car for family use or because he or she wants new car models. It may also be that the old vehicle is not
Accident-Year Statistics
Accident-Year Statistics
Statistics is very advantageous in many mathematical applications. It deals with the accumulation, organization and analysis of data. It also embraces the scheming of data gathering with respect to design of surveys and experiments. A statistician must be refined
Subrogation
Subrogation
The term subrogation generally refers to a person’s substitution in the position of another to pursue a lawful right, demand, or claim, in order that the person who surrogated succeeds to the other’s rights as pertaining to claims or debt,
Additional Interest
Additional Interest
Property insurance, in a particular way, guards valuable properties against harmful risks like theft, fire, or damages due to weather disturbances. Insurances as regards to floods, earthquakes, fire, and home are policy types belonging to property insurance. Since this
Unearned Premiums
Unearned Premiums
Unearned premiums are only portions of the premiums, paid by the policy holders, that are then collected by the insurance provider in advance that are subject to be returned to the client once the coverage ends earlier before the
Accident Severity
Accident Severity
Accidents are events that happen unexpectedly without deliberate plan or cause. They occur somehow in the lives of people ubiquitously without anticipation in that particular time. Most severe accidents take place due to people’s carelessness, rushing into uncertain things.
Uninsured Motorist Coverage
Uninsured Motorist Coverage, What Is It?
State laws mandate all drivers to avail at least a minimum amount of liability insurance before operating their vehicle legally. The major problem of these laws is that many drivers do not comply from what is
Variable Universal Life Insurance