Terms with Category Insurance
- Underwriting Income — Definition,
- The income earned by an insurer from underwriting in a certain amount of time.
- Underwriting Risk — Definition,
- The total amount of risk an entity takes on from underwriting something.
- Unearned Premium — Definition,
- Premiums that have not yet been collected from an insurance policy.
- Unfair Claims Practice — Definition,
- The act of an insurance company avoiding or reducing valid insurance claims.
- Uninsurable Peril — Definition,
- Something that cannot be insured due to a high risk of loss.
- Uninsured Motorist Coverage — Definition,
- Auto insurance that covers collision damages caused by a driver without auto insurance.
- Unisex Legislation — Definition,
- Laws that prevent insurers from using gender as a factor when calculating premiums.
- Universal Healthcare — Definition,
- A system for providing healthcare free to patients at point of use.
- Universal Life Insurance — Definition,
- A form of life insurance that offers flexible investment options and tax efficiency for estate management.
- Unsolicited Application — Definition,
- An application for insurance made directly by an individual as opposed to an application made by a broker or agent.
- Unvalued Marine Policy — Definition,
- Insurance that covers a marine asset to an unspecified dollar amount.
- Usual, Customary and Reasonable Fees — Definition,
- The expected cost of a medical treatment, and what an insurance company is willing to pay.
- Utilization — Definition,
- How frequently a policyholder makes use of their insurance policy.
- Validation Period — Definition,
- The amount of time needed before an insurance policy turns a profit for an insurance company.
- Valuable Papers Insurance — Definition,
- Insurance that covers damages to valuable papers such as property deeds or wills.
- Valuation — Definition,
- The estimation of a property's price value through an appraisal.
- The process of finding the worth of an asset or business.
- Valuation Clause — Definition,
- A clause in an insurance contract that states how much an insurer is willing to pay for an asset after an insured event.
- Valuation Reserve — Definition,
- A financial reserve kept by an insurer in case a liability is larger than expected or an insurer's investments or assets are overvalued.
- Value Reporting Form — Definition,
- A form used to keep track of a business's current inventory value.
- Valued Marine Policy — Definition,
- Insurance that covers a marine asset up to a specified amount.
- Vandalism and Malicious Mischief Coverage — Definition,
- Insurance that covers property owners for damages resulting from acts of vandalism.
- Vanishing Premium Policy — Definition,
- A life insurance policy where policy dividends are used to pay the policy's premiums.
- Variable Death Benefit — Definition,
- A life insurance death benefit that differs depending on how well the insurance company's investment portfolio fares.
- Variable Life Insurance (VLI) — Acronym,
- Life insurance that provides the policyholder the option to place some of his or her premiums into the insurer's investment portfolio, providing beneficiaries with a variable death benefit.
- Variable Universal Life Insurance (VULI) — Acronym, Important,
- A form of life insurance with adjustable premiums, flexible investment options, and tax efficiency.
- Viatical Settlement — Definition,
- A contract where an individual agrees to sell his or her life insurance policy to a third party before their death.
- Viator — Definition,
- A person who agrees to sell his or her life insurance policy to a third party.
- Voluntary Life Insurance — Definition,
- Life insurance offered as part of an employee benefit package where the employee agrees to pay the insurance premiums.
- Voluntary Reserve — Definition,
- A reserve kept by an insurer for future claims that is larger than is required by government regulations.
- Voyage Policy — Definition,
- Insurance that covers assets being transported by sea.
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Underwriting Income -
Validation Period
Validation Period
