Bankruptcy A proceeding in U.S. Federal Court that may legally release a person from repaying debts owed. The law contains several chapters which relate to different methods of relief: Rider. An amendment to a policy that modifies the policy by expanding or restricting its benefits or excluding certain conditions from coverage. An example of a rider is additional insurance for valuables such as jewelry. Stock life insurance company. A life insurance company owned and controlled by stockholders who share in the surplus earnings. The company issues, in general, nonparticipating life insurance.
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Agent -individual who sells and services insurance policies in either of two classifications: Competitive Estimate Total Finance Charge: It is the total of finance charges, which is generally calculated by multiplying the average daily balance, by the daily periodic rate, and the number of days in the billing cycle.
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The rules that determine the cost of your insurance premium. These rules modify the base rates by applying discounts and surcharges based on your personal characteristics, for example, using your seat belt, insuring more than one car. Capitalization or Leverage - Measures the exposure of a company's surplus to various operating and financial practices. A highly leveraged, or poorly capitalized, company can show a high return on surplus, but might be exposed to a high risk of instability. Consumer Debt: Consumer debt or credit that is mainly incurred to fund consumption and not investment. So, consumer debt is one that is primarily used for purchasing consumer goods, that are not considered as tangible investment. Examples include credit card debt, car loans, family loans and store-financed consumer purchases. An individual usually incurs consumer debt for personal or household purposes. |
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