Search results
Results from the WOW.Com Content Network
Additional insurance coverage and endorsements are the subject of frequent disagreements, misunderstandings, and litigation. The disagreements are often about whether the additional insurance coverage should cover "independent negligence" by the additional insured, or should only cover liabilities caused by the named insured party's acts.
Term. Meaning. Named insured. A named insured, or driver, is usually the main policyholder. They pay the premiums and have full control over the policy.
An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and ...
Conventional with-profits contracts have a basic sum assured to which bonuses are added. The basic sum assured is the minimum amount of life assurance payable on death; for endowment contracts it is also the minimum lump sum payable at maturity. The basic sum assured attracts reversionary bonuses which are used to distribute profits to the policy.
For additional financial protection on and off the road, you might want to add other types of coverage, like roadside assistance, uninsured motorist or gap insurance. Some states require uninsured ...
S is the sum assured (face amount) A is an assurance function; NP is the net premium for that sum assured; a is an annuity function; E (used in the Zillmer adjustment below) is the initial expenses; So the reserve is the present value of future benefits less the present value of future notional net premiums.
In health insurance, copayment is fixed while co-insurance is the percentage that the insured pays after the insurance policy's deductible is exceeded, up to the policy's stop loss. [1] It can be expressed as a pair of percentages with the insurer's portion stated first, [2] or just a single percentage showing what the insured pays. [3]
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!