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Insurance Terms
Glossary

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  • Earned Premium

    The portion of a premium that is the property of an insurance company, based on the expired portion of the policy period. For example, an insurance company is considered to have earned 75 percent of an annual premium after a period of nine months of an annual policy has elapsed.

  • Economic Loss

    The estimated total cost, both insured and uninsured, of mishaps (such as motor vehicle accidents, work accidents, and fires); includes such factors as property damage, funeral expenses, wage loss, insurance administration costs, and medical, hospital and legal costs.

  • Endowment

    Life insurance payable to the policyholder if living, on the maturity date stated in the policy, or to a beneficiary if the insured dies prior to that date.

  • Estate

    The assets and liabilities of a person left at death.

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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.

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