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VALUED POLICY.
1
VANDALISM.
1
VARIABLE ANNUITY.
1
VARIABLE LIFE INSURANCE.
1
VIATICAL SETTLEMENT COMPANIES.
1
VOID.
1
VOLATILITY.
2
VOLCANO COVERAGE.
2
VOLUME.
2
A policy under
which the insurer pays a specified amount of money to or on behalf
of the insured upon the occurrence of a defined loss. The money
amount is not related to the extent of the loss. Life insurance
policies are an example.
The malicious and
often random destruction or spoilage of another person’s property.
An annuity whose
contract value or income payments vary according to the performance
of the stocks, bonds and other investments selected by the contract
owner.
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.
Insurance firms
that buy life insurance policies at a steep discount from
policyholders who are often terminally ill and need the payment for
medications or treatments. The companies provide early payouts to
the policyholder, assume the premium payments, and collect the face
value of the policy upon the policyholder’s death.
A policy contract
that for some reason specified in the policy becomes free of all
legal effect. One example under which a policy could be voided is
when information a policyholder provided is proven untrue.
A measure of the
degree of fluctuation in a stock’s price. Volatility is exemplified
by large, frequent price swings up and down.
Most homeowners
policies cover damage from a volcanic eruption.
Number of shares
a stock trades either per day or per week.
Glossary of Insurance Terms
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