What Do You Mean By Insurance Coverage?

What are the 3 types of life insurance?

There are three main types of life insurance: whole life, universal life, and term life insurance..

What happens to term life insurance if you don’t die?

If you outlive your term life insurance policy, the money you have put in, will stay with the insurance company. … The premiums paid by those who don’t die while their policies are in force will ultimately be used for life insurance payouts to the families of those who were not as lucky to have outlived their policy.

What is another name for attention?

SYNONYMS FOR attention 1 awareness, consciousness, watchfulness, alertness, mindfulness, heed. 4 deference, politeness, regard; respect, homage.

What’s another word for inclusion?

In this page you can discover 16 synonyms, antonyms, idiomatic expressions, and related words for inclusion, like: admittance, incorporation, comprisal, addition, insertion, exception, omission, subtraction, inclusion body, comprehension and embodiment.

What are the 4 types of insurance?

Most experts agree that life, health, long-term disability, and auto insurance are the four types of insurance you must have.

What are the 7 types of insurance?

7 Types of Insurance You Need to Protect Your BusinessProfessional liability insurance. … Property insurance. … Workers’ compensation insurance. … Home-based businesses. … Product liability insurance. … Vehicle insurance. … Business interruption insurance.

What is fire insurance in simple words?

The term fire insurance refers to a form of property insurance that covers damage and losses caused by fire. Most policies come with some form of fire protection, but homeowners may be able to purchase additional coverage in case their property is lost or damaged because of fire.

What’s another word for coverage?

In this page you can discover 13 synonyms, antonyms, idiomatic expressions, and related words for coverage, like: broadcasting, report, analysis, description, inclusion, indemnity, insurance, observed, scope, words and reporting.

How do insurance companies make their money?

Most insurance companies generate revenue in two ways: Charging premiums in exchange for insurance coverage, then reinvesting those premiums into other interest-generating assets. Like all private businesses, insurance companies try to market effectively and minimize administrative costs.

What is another word for process?

Synonyms forcase.course.development.means.practice.proceeding.system.technique.

What are the 5 parts of an insurance policy?

Every insurance policy has five parts: declarations, insuring agreements, definitions, exclusions and conditions. Many policies contain a sixth part: endorsements.

What does coverage mean?

1 : something that covers: such as. a : inclusion within the scope of an insurance policy or protective plan : insurance. b : the amount available to meet liabilities. c : inclusion within the scope of discussion or reporting the news coverage of the trial.

What are the different types of insurance coverage?

A basic auto insurance policy is comprised of six different kinds of coverage, each of which is priced separately (see below).Bodily Injury Liability. … Medical Payments or Personal Injury Protection (PIP) … Property Damage Liability. … Collision. … Comprehensive. … Uninsured and Underinsured Motorist Coverage.

What does insurance mean in simple terms?

Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier or underwriter.