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  Insurance Terms

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z All

Beneficiary
The person, persons or entity designated to receive the death benefits from a life insurance policy when you die.

Benefit Maximum
The time period for which payments for benefits of an insurance policy are available.

Benefit Period
The time period for which payments for benefits of an insurance policy are available.

Binder
A temporary insurance contract that provides proof of coverage until you receive a permanent policy from the company. A binder is subject to the payment of a premium.

Bodily Injury Liability
Insurance that pays for another personís bodily injury or death in an automobile accident caused by you. It compensates those people for pain, suffering, and other personal hardships, and will also pay for some economic damages (i.e., lost wages).

Broad Form Insurance
Coverage for numerous perils.

Broker
An insurance salesperson who deals with agents and companies to find insurance for consumers.

Burial Policy
A policy to cover funeral and burial costs.

 

 




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