insurance policy
21Unbundled Life Insurance Policy — A type of financial protection plan that provides cash to beneficiaries upon the policyholder s death. A unbundled life insurance policy contains a savings and investment component that the policyholder can use during his or her lifetime or pass… …
22business owner's insurance policy — ➔ insurance policy …
23fire insurance policy — ➔ insurance policy …
24Named Perils Insurance Policy — A home insurance policy that only provides coverage on losses incurred to your property from hazards or events named on the policy. Named peril policies may be purchased as a less expensive alternative to a comprehensive coverage or broad… …
25conversion of insurance policy — The surrender of a life insurance policy to the insurer in exchange for another policy pursuant to a right or privilege provided the insured in the original policy. 29 Am J2d Ins § 367. See exchange of policy …
26delivery of insurance policy — An insurance policy becomes effective as by the delivery of the instrument where it appears that there is an intention to part with the control of the instrument and to place it in the possession or control of the insured, or some person acting… …
27interest-sensitive insurance policy — A cash value life insurance policy whose insurance dividend rates vary with respect to inflation, enabling the policyholder to avoid the loss of purchasing power associated with inflation. Bloomberg Financial Dictionary …
28Variable life insurance policy — A whole life insurance policy that provides a death benefit dependent on the insured s portfolio market value at the time of death. Typically the company invests premiums in common stocks, and hence variable life policies are referred to as… …
29homeowner's insurance policy — An insurance policy protecting a homeowner against damage or loss to property. Bloomberg Financial Dictionary …
30nonparticipating life insurance policy — life insurance policy whose policyholders do not receive dividends, because they are not participants in the interest, dividends, and capital gains earned by the insurer on premiums paid. Bloomberg Financial Dictionary …