Insurance Articles

What is a Universal Life Insurance?

Universal life insurance is a type of life insurance that was added as one of our options during the 1980s as a way to generate cash value.

Waiver of Premium

With some types of life insurance policies, after a period of time you will be able to stop making life insurance premiums once the value builds up.

Waiting Period

In the field of health insurance, the waiting period is the time between the signing of the contract and when the insurance protection goes into effect.

Voluntary Reserve

A voluntary reserve is an amount of money that the insurance company sets aside in order to ensure that the are financially stable and able to weather storms.


The person with the life threatening illness that is benefiting from a viatical contract is known as a viator, and they will receive a portion of the life insurance early.

Viatical Settlement Provider

None of us want to think about our death, but for those with a terminal illness, a viatical settlement will allow you to receive life insurance proceed while living.

Variable Universal Life Insurance

For those that are interested in maintaining a cash value life insurance policy, this type of life insurance can give you more control over the cash value of your policy.


All life insurance contracts will require there to be medical tests and other questionnaires, along with an evaluation before there is acceptance.

Variable Annuitization

An annuity is a great way to ensure that your retirement nest egg does not break in retirement, as you receive guaranteed payments with very little risk,


Assigning a proper value to the assets in the company are critical for determining the health and stability of the insurance company.

Valuation Reserve

In the field of insurance, valuation reserve is used in order to stabilize the company when there are losses, and it shows regulators you are stable


Utilization refers to the method by which health insurance companies will evaluate the value of a given procedure.

Uninsured Motorist Coverage

Although all people are required to have car insurance, you are also required to have uninsured motorist coverage in case someone does not comply.

Unearned Premiums

In the case where you have auto insurance and your car is damaged to where the policy ends, the unearned premium will be referred to you.

Additional Interest

One of the ways that lenders protect themselves from loss is by being placed on the insurance policy as additional interest, which ensures that they will be paid.

Accumulated Amount

The accumulated amount refers to the value of life insurance policy or annuity based on your investment and how it has performed.

Accidental Means

With life insurance policies that have stipulations for accidental death coverage, this ensures that the death is a result of an accident.


One of the most important aspects of running an insurance company is getting the policies underwritten according to the standards of the company.

Underwriting Guide

There are a number of different standards that all insurance companies will follow when they are underwriting a policy, and this enables their standards

Underwriting Expenses Incurred

As a part of underwriting the various policies that are issued by a company, they will incur a number of different expenses in the process.


In the world of insurance, an underwriter functions as the one analyzing insurance applications whether to be agreed upon or discarded.

Unaffilitated Investments

When you purchase your life insurance policy, the company will pool your resources with others and invest the money in order to increase earnings and reduce the cost of policies.

Total Loss

A incident involving damage to your property, such as the results of a fire or tornado, may result in a total loss, where nothing is salvagable

Total Annual Loan Cost

One of the things that can affect the equity on your home is a financial package known as a reverse mortgage, whihc allows you to tap into that equity.

Total Admitted Assets

when it comes to meeting the requirements of the various states, the admitted assets tells them that the company will be able to handle claims.

Insurance: Tort

Although we all complain about legal costs, they do work in order to protect the rights of their clients when they feel they have been wronged.

Term Life Insurance

Term life insurance is an easy an affordable way to protect your family from the possibility of your death and loss of income.

Surrender Period

Unlike paying a surrender charge to end a life insurance contract, a surrender period is a time when that fee will not be applied.

Surrender Charge

One of the ways that life insurance companies keep their customers is by charging a surrender charge for canceling their policies before the contract is expired.


A surplus is important for the insurance company, as these funds can ensure the long term stability for the company.

Successive Periods

As a part of many health insurance policies, they will consider successive periods to refer to multiple hospital visits for the same issue.


With any number of types of insurance policies, subrogation gives the insurance company the right to chase after a third party for repayment if they are at fault.

Insurance: Accounting

One of the most important tools for the insurance company is their accounting system, as this is the financial tool that drives all other decisions.

Accountant’s Report

The accountants that are involved in the insurance company (or in any other company) will produce a number of useful reports to aid decision making.

Accountant’s Professional Liability Insurance

With an accounting agency, there are a number of different types of liability policies to consider, and these can ensure that the company reduces risks.

Accountant’s Liability Insurance

Just like many other types of businesses, it is important for accountants to have liability coverage in the case of any mistakes.

Additional Deposit Privilege

With some whole life insurance products, additional deposit privilege will allow you to increase your amount of coverage over time.

Accumulation Unit

When looking at annuity products, the accumulation unit will measure the value of the investments that you are purchasing.

Accumulation Benefits

As a part of a life insurance policy, you may be able to get something referred to as accumulation benefits, which allows you to add as you need it.

Accumulated Value

When looking at insurance products such as an annuity, one term that you will read about is called accumulated value, or the current value of the underlying account.

Accident-Year Statistics

In order for insurance companies to be able to evaluate their financial performance, one of the statistics that they are gathering is accident year statistics.

All about Accident and Health Insurance

Accident and health insurance is an important way of protecting the finances of you and your family in the event of unforeseen circumstances.

Adhesion Insurance Contract

An adhesion insurance contract is one that all of us have signed, as this refers to a binding contract between you and the insurance company.

Additional Living Expense Loss

One of the important additions that you can add to your homeowner policy protects you from loss of use, such as when you are unable to live there after a fire.

Additional Car

Although most of us own more than one vehicle, we also know that this increases our insurance costs, but most companies discount additional vehicles.


As a part of your auto insurance policy, you will see addendums added to the policy in order to legally clarify aspects of the policy.

Ad Valorem

Ad valorem taxes are a type of tax that is applied to your property by the government entities. You will see this as a part of your payment.


With auto insurance, and some other types of insurance, they may refer to actual cash value, which mean that you only receive the value of the item.


One of the most important people in the life insurance field is that of an actuary, as they calculate the risks that determine your rates.

Enrolled Actuary

One of the things for an actuary to strive for is to achieve certification, as this demonstrates their expertise and commitment to the field and ethics.