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Download Dictionary of Insurance Terms by Harvey W. Rubin Ph.D. PDF

By Harvey W. Rubin Ph.D.

A priceless quick-reference fact-finder for brokers, agents, actuaries, underwriters, and usual shoppers, this instruction manual defines nearly 4,500 keywords utilized in the coverage undefined. Definitions practice to lifestyles, health and wellbeing, estate, and casualty assurance, in addition to to householders' and tenants' coverage, specialist legal responsibility assurance, pension plans, and person retirement money owed. buy of policies constitutes a massive lifetime expenditure for the typical shopper, and an enormous functionality of this ebook is to assist non-experts comprehend what they wish and precisely what they're paying for after they buy coverage. writer Harvey Rubin, a Chartered lifestyles Underwriter and Chartered estate and Casualty Underwriter, opens with an summary of the assurance that issues out the various monetary tools to be had from insurance firms to companies, execs and general shoppers. He devotes the rest of this publication to definitions, descriptions, and examples that translate technical assurance terminology into transparent, understandable English. this is an enlightening and available company consultant that merits a spot on each domestic bookshelf. the recent York occasions calls this ebook ". . . useful, fairly for worker gain and retirement issues."

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ACTUARIAL EQUIVALENT mathematical determination based on the expectation of loss and the benefits to be paid in such an eventuality. The premium charged will vary directly with the probability of loss. ACTUARIAL GAINS AND LOSSES experience as it relates to the annual costs associated with a pension plan. In calculating premiums due under a pension plan, basic assumptions must be made concerning future loss experience and expenses. Actual loss experience can prove to be better or worse than envisioned.

ADHESION INSURANCE CONTRACT agreement prepared by an insurance company and offered to prospective insureds on a take-it-or-leave-it basis. If the contracts are misinterpreted by insureds, courts have ruled in their favor since the insureds had no input into the contract. All insurance contracts have been deemed by courts to be contracts of adhesion. AD INFINITUM continuing on an indefinite basis. ADJACENT that which adjoins. Most property insurance policies such as the HOMEOWNERS INSURANCE POLICY provide structural coverage on an adjacent building on the same basis as the primary building.

ADDITIONAL CAR automobile purchased or leased by the insured or the insured's spouse that is in addition to the insured or the insured spouse's present car as covered under the PERSONAL AUTOMOBILE POLICY (PAP). In order for this car to be insured, the car must be a private passenger car and the insurance company must insure all of the insured and insured spouse's other private passenger cars. If it is a pickup or van with less than 10,000 lb. gross vehicle weight and not used in business or farming, the insurance company also must insure all the other cars owned by the insured or the insured's spouse for that car to be covered.

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