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JOINT AND SURVIVOR ANNUITYAn annuity with two annuitants, usually spouses. Payments continue until the death of the longest living of the two.JOINT UNDERWRITING ASSOCIATION / JUAInsurers which join...
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IDENTITY THEFT INSURANCECoverage for expenses incurred as the result of an identity theft. Can include costs for notarizing fraud affidavits and certified mail, lost income from time taken off from...
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HACKER INSURANCEA coverage that protects businesses engaged in electronic commerce from losses caused by hackers.HARD MARKETA seller’s market in which insurance is expensive and in short supply....
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GAP INSURANCEAn automobile insurance option, available in some states, that covers the difference between a car’s actual cash value when it is stolen or wrecked and the amount the consumer owes the...
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FACULTATIVE REINSURANCEA reinsurance policy that provides an insurer with coverage for specific individual risks that are unusual or so large that they aren’t covered in the insurance company's...
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EARLY WARNING SYSTEMA system of measuring insurers’ financial stability set up by insurance industry regulators. An example is the Insurance Regulatory Information System (IRIS), which uses financial...
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DECLARATIONPart of a property or liability insurance policy that states the name and address of policyholder, property insured, its location and description, the policy period, premiums, and...
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C-SHARE VARIABLE ANNUITIESA form of variable annuity contract where the contract holder pays no sales up front or surrender charges. Owners can claim full liquidity at any time.CAPACITYThe supply of...
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B-SHARE VARIABLE ANNUITYA form of variable annuity contract with no initial sales charge but if the contract is cancelled the holder pays deferred sales charges (usually from 5 to 7 percent the first...
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A-SHARE VARIABLE ANNUITYA form of variable annuity contract where the contract holder pays sales charges up front rather than eventually having to pay a surrender charge.ACCELERATED DEATH BENEFITSA...
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