My Location
Unknown x

Insurance Terms

Lorem ipsum dolor sit amet, graeco vocibus erroribus nam et, cu vix sanctus salutandi definitionem. Eos corrumpit necessitatibus ea, te cum iriure persius, diam porro argumentum ne eum. Reque tractatos ne cum, iusto graeco platonem nec eu. Eum saepe omnium meliore ne, ne eam ancillae complectitur, sed ex dicit audiam.

  • Absolute Liability

    Liability for damages even though fault or negligence cannot be proven. Certain situations create absolute liability for the manufacturer a product or the provider of a service.

  • Accumulation Period

    (1) The time between the first premium payment and the first benefit payout under a deferred annuity; (2) A specified period of time, such as 90 days, during which the insured person must incur eligible medical expenses at least equal to the deductible amount in order to establish a benefit period under a major medical expense or comprehensive medical expense policy.

  • Actual Cash Value

    The replacement cost of property damaged or destroyed at the time of loss, with deduction for depreciation. Actual Cash Value cannot exceed the applicable liability limits shown in the declarations of the policy, nor the amount it would cost to repair or replace such property with material of like kind and quality within a reasonable amount of time after a loss.

  • Adverse Selection

    The tendency of persons who present a poorer-than-average risk, to apply for, or continue, insurance to a greater extent than do persons with average or better-than-average expectations of loss. An insurance company that experiences adverse selection will also experience poor financial results.

Stay civilized with the latest insurance news

Insurance Reference Guides

Where you live may affect your coverage options. Our reference guide will assist you in finding plans available in your state.

Insurance Terms Glossary

From "absolute liability" to "written premiums," we've done the work for you to define commonly used insurance terms.

© 2018 eINSURE. Privacy Policy | Terms

EInsure Services, Inc., Insurance Services, Chicago, IL

contact info

company info

partnership details