Archive

22 May Tort

A private wrong or harm (other than a breach of contract) committed against another, resulting in legal liability. A tort is either intentional or accidental (negligent). Automobile liability insurance is purchased to protect one from suits arising from unintentional torts....

Read More

22 May Surrender Charges

Charges that are deducted if a life insurance policy or annuity is surrendered (cashed in). These charges also are deducted if the policyholder borrows money on the policy or if the policy lapses for non-payment....

Read More

22 May Surcharge

An extra charge added to a premium by an insurance company. With automobile insurance, a surcharge is usually added if a policyholder borrows money on the policy or if the policy lapses for non-payment....

Read More

22 May Substandard Risk

A person who is considered an under-average or impaired insurance risk because of physical condition, family or personal history of disease, occupation, residence in unhealthy climate, or dangerous habits....

Read More