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5 Results for Tag: coinsurance

Yearly Renewable Term (YRT)

Yearly Renewable Term (YRT) What is 'Yearly Renewable Term - YRT' A one-year term life insurance policy. This type of policy gives policy holders a quote for the year the coverage is bough

Yearly Renewable Term Plan of Reinsurance

Yearly Renewable Term Plan of Reinsurance What is 'Yearly Renewable Term Plan of Reinsurance' A type of life reinsurance where mortality risks are transferred to a reinsurer. In the yearly

Abandonment Clause

Abandonment Clause What is 'Abandonment Clause' A clause in a property insurance contract that, under certain circumstances, permits the property owner to abandon lost or damaged property

Waiver Of Coinsurance Clause

Waiver Of Coinsurance Clause What is 'Waiver Of Coinsurance Clause ' Language in an insurance policy that says the insurance company will not require application of the part of the policy

Waiver Of Inventory Clause

Waiver Of Inventory Clause What is 'Waiver Of Inventory Clause ' A clause in an insurance policy that says that the insurance company will not require the policyholder to provide a writte