Personal Insurance Terms

There are a few common types of life insurance: term, final expense and permanent. See more on the different types of life insurance. Limits. An insurance coverage limit is selected by you and is the most an insurance company will pay for damages, injuries, or losses that apply to the coverage. Loan/lease payoff coverage. One common type of personal insurance is life insurance. Life insurance covers the risk associated with the death of a loved one--typically a wage-earner. For instance, if a husband earns $50,000 per year and his wife and dependent children do not have wages, the family would probably be in a dire financial situation if he were to die.. Insurance terms, definitions and explanations are intended for informational purposes only and do not in any way replace or modify the definitions and information contained in individual insurance contracts, policies or declaration pages, which are controlling. Such terms and availability may vary by state and exclusions may apply.. Insurance Terms And Definitions. No insurance website could be complete without offering and index of insurance terms and definitions. We've curated a list of advanced and basic insurance terms and their definitions to better help you understand the often confusing world of insurance. This page provides an index of insurance terms and ....

Term Insurance - life insurance payable only if death of insured occurs within a specified time, such as 5 or 10 years, or before a specified age. Third Party - person other than the insured or insurer who has incurred losses or is entitled to receive payment due to acts or omissions of the insured..

Insurance bundles that let you personalize your coverage by purchasing two or more plans together, such as vision and dental insurance, short term coverage and dental insurance and more. Medicare A federal health insurance program for people who are 65 and older and/or disabled.. Personal Lines Courses Commercial Lines Courses Claims & Fraud Courses General, Ethics & Law Courses Captive & Risk Finance Courses ... Insurance and Risk Management Terms.. Term life insurance, also known as pure life insurance, is life insurance that guarantees payment of a stated death benefit during a specified term. Once the term expires, the policyholder can either renew it for another term, convert the policy to permanent coverage, or allow the policy to terminate..