Insurance

A Living Benefit in a life insurance policy is a rider in which it provides the insured with an early payment in the event that a terminal illness or injury occurs. The payment is generally a portion of the policy's face amount. A Living Benefit can also be referred to as an "Accelerated Death Benefit".

A Revocable Beneficiary is a beneficiary named within a life insurance policy in which the owner reserves the right to revoke or change the beneficiary designation.

In many states, it is illegal to drive a car without proof of insurance. Car Insurance accident statistics show over 12 million cars are involved in accidents. If you are at fault in an accident in which someone is injured, either a passenger in your car, a pedestrian, or an occupant in another car, your potential liability can be financially devastating.

Homeowners coverage helps limit your financial losses if your house or its contents are damaged, destroyed, or stolen, for a budgetable yearly premium. If you are adequately insured, homeowners insurance shifts the bulk of the liability exposure to the insurance company. Depending on your policy, if your possessions are lost or damaged by fire, theft, vandalism, storm or another covered disaster, your homeowners insurance can help replace, rebuild or repair the asset. It can also pay damages if someone is hurt while on your property. Generally, flood damage is not covered under homeowners policies and must be purchased separately as a seperate rider.

The insurance company underwriter is the insurance company guaranteeing to pay for the losses insured against, as it is outlined in the insurance policy.
Also an underwriter is the person who assesses and classifies the potential degree of risk that a proposed insured represents to determine whether a person is a super preferred risk, preferred risk, standard risk or substandard risk.

Guaranteed Insurability is a life insurance policy rider that allows additional insurance to be purchased at various times without submitting evidence of insurability.

Double Indemnity is a life insurance policy rider which pays double the face value amount of the policy, if the insured's death occurs as a result of an accident.

Title insurance is a policy issued by a title insurance company insuring that the borrower has clear title to the property and that the lender has a valid mortgage subject only to potential liens, claims and exceptions disclosed in the title insurance policy.

An annuity is a contract between an insurance company and an individual whereby the insurance company agrees to make periodic payments to the individual for a certain period or for the life of the individual. Generally, a fixed annuity may be right for you if you want to supplement pension and other qualified retirement plan contributions or you want the benefits of tax deferred accumulation or you want to provide a lifelong income for a family member such as a disabled child, regardless of age or you value safety without management worries.