Term Insurance - Law Dictionary Search Results
Home Dictionary Name: term insurance Page: 2 Page 2 of about 77 results (0.004 seconds)gain
gain 1 : an increase in value, capital, or amount compare loss capital gain : a gain realized on the sale or exchange of a capital asset (as a stock or real estate) ca·su·al·ty gain : a gain realized by an insured because property insurance benefits paid for a loss from a casualty or theft are greater than the adjusted value of the insured asset long-term capital gain : a capital gain realized on the sale or exchange of an asset held for more than a specified period (as a year) ordinary gain : a gain from the exchange or sale of an asset that is not capital short-term capital gain : a capital gain realized on the sale or exchange of an asset held for less than a specified period (as a year) that is treated as ordinary income under federal income tax laws 2 pl in the civil law of Louisiana : a class of community property that reflects the increase in property value contributed by the common skill or labor of the spouses gain vb ...
loss
loss 1 : physical, emotional, or esp. economic harm or damage sustained: as a : decrease in value, capital, or amount compare gain b : an amount by which the cost of something (as goods or services) exceeds the selling price compare profit c : something unintentionally destroyed or placed beyond recovery d : the amount of an insured's financial detriment due to the occurrence of a stipulated event (as death, injury, destruction, or damage) in such a manner as to create liability in the insurer under the terms of the policy NOTE: As a general rule, economic losses are deductible from adjusted gross income under section 165 of the Internal Revenue Code. There are, however, numerous exceptions and limitations. actual loss : the identifiable and calculable monetary detriment that is suffered or will be suffered as a result of an act or event actual total loss : a loss in marine insurance in which the property (as a vessel or cargo) cannot be repaired or recovered compare constru...
underwrite
underwrite -wrote [-rōt, -rōt] -writ·ten [-rit-n, -rit-n] -writ·ing 1 a : to assume liability for (a risk) as an insurer [the insurer s individuals, not the group, in franchise health insurance] b : to issue or set the terms of (an insurance policy) 2 : to agree to purchase (all or part of a security issue) usually on a fixed date at a fixed price with the purpose or plan to resell by means of a public offering [was a security brokerage firm which as part of its business underwrote speculative new issues "UFITEC, S.A. v. Carter, 135 Cal. Rptr. 607 (1977)"] 3 a : to put up funds for or guarantee financial support of b : to assess the risk of (as a loan) ...
Renewal of insurance policy
Renewal of insurance policy, a renewal of an insurance policy means repetition of the original policy. When renewed, the policy is extended and the renewed policy in identical terms from a different date of its expiration comes into force. In common parlance, by renewal, the old policy is revived and it is sort of a substitution of obligations under the old policy unless such policy provides otherwise, Biman Krishna Bose v. United India Insurance Co. Ltd., (2001) 6 SCC 477 (482)....
earned premium
earned premium : the difference between the amount of premium paid by the insured and the amount returned to the insured by the insurer upon cancellation of a policy before its term expires ...
insuring agreement
insuring agreement : the part of an insurance policy setting out in basic terms what the policy covers ...
coverage
coverage 1 : protection or indemnification by an insurance policy [the policy provides extensive against burglary] 2 : a risk assumed by the terms of an insurance contract [the policy lists four s: liability, medical payments, uninsured motorists, and physical damage] ...
Contract of marine insurance
Contract of marine insurance, may, by its express terms or by trade usage, be extended so as to protect the assured against losses on inland waters or against any land risk which may be incidental to a sea voyage, and it may also cover a ship in the course of building, or the launch of a ship, or any adventure analogous to a marine adventure, Jackson v. Mumford, (1904) 9 Com Cas 114....
umpire
umpire : a person having authority to decide finally a controversy or question between parties: as a : one appointed to decide between disagreeing arbitrators b : an impartial third party chosen to arbitrate disputes arising under the terms of a labor agreement c : one appointed to mediate between the appraisers of an insured and insurer in order to determine the amount of a loss ...
short rate
short rate 1 : an insurance premium charge for less than a year of coverage that is more than a pro rata part of the annual premium 2 : an insurance policy written for less than one year called also short term ...
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