Definition and meaning of Whole Life Insurance :

Whole Life Insurance: Insurance which may be kept in force for a person's whole life and which pays a benefit upon his death, whenever that may be. All Whole Life policies build up nonforfeiture values, but they are paid for in 3 different ways. Under a Straight or Ordinary Life policy, premiums are paid for as long as the insured lives. A single premium policy is paid for at one time in one premium. Between these two types there are many limited-payment plans, under which the insured pays premiums for a certain period or until reaching a certain age. Contrast with Term Insurance. (LI)

(Source: InsWeb)

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Definition and meaning of Warranty Policy :

Warranty Policy: A policy written by a reputable company. The term is used in cases where additional coverage is needed: The additional policies all state that the reputable company's warranty policy will stay in force and that they provide coverage exactly like that of the warranty policy. (PR)

(Source: InsWeb)

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Definition and meaning of Weekly Premium Insurance :

Weekly Premium Insurance: (1) A policy the premium on which is collected weekly by an agent calling at the door. It is usually sold in small face amounts. (2) A form of Debit or Industrial Life Insurance. See also Industrial Life Insurance. (LI,H)

(Source: InsWeb)

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Definition and meaning of Wholesale Group Insurance :

Wholesale Group Insurance: See Franchise Insurance. (LI,H)

(Source: InsWeb)

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Definition and meaning of Wave Damage Insurance :

Wave Damage Insurance: Coverage against damage to property resulting from high waves or tides. (PR)

(Source: InsWeb)

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Definition and meaning of Whole Life Insurance :

Whole Life Insurance: Life insurance payable to a beneficiary at the death of the insured whenever that occurs. Premiums may be payable for a specified number of years (limited payment life) or for life (straight life).

(Source: The Haskayne School of Business at the University of Calgary )

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Definition and meaning of Whole Life Insurance :

Whole Life Insurance: A plan of insurance for the whole of life. It includes straight life on which premiums are payable until death.

(Source: The Haskayne School of Business at the University of Calgary )

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Definition and meaning of Workers' Compensation Insurance :

Workers' Compensation Insurance: Insurance against liability imposed on certain employers to pay benefits and furnish care to employees injured, and to pay benefits to dependents of employees killed in the course of or arising out of their employment.

(Source: The Haskayne School of Business at the University of Calgary )

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Definition and meaning of WRAP-UP INSURANCE :

WRAP-UP INSURANCE: Broad policy coordinated to cover liability exposures for a large group of businesses that have something in common. Might be used to insure all businesses working on a large construction project, such as an apartment complex.

(Source: Insurance Information Institute )

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Definition and meaning of WEATHER INSURANCE :

WEATHER INSURANCE: A type of business interruption insurance that compensates for financial losses caused by adverse weather conditions, such as constant rain on the day scheduled for a major outdoor concert.

(Source: Insurance Information Institute )

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Definition and meaning of WHOLE LIFE INSURANCE :

WHOLE LIFE INSURANCE: The oldest kind of cash value life insurance that combines protection against premature death with a savings account. Premiums are fixed and guaranteed and remain level throughout the policyÕs lifetime.

(Source: Insurance Information Institute )

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Definition and meaning of whole life insurance :

whole life insurance: A plan of insurance for life, with premiums payable for a person's entire life.

(Source: Bank of America )

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Definition and meaning of windstorm insurance :

windstorm insurance: Windstorm coverage pays for losses to your property that result from a windstorm. The coverage acts like a flood or earthquake policy in that it pays for damage to the dwelling, and, in some cases, for damage to your personal property and for living expenses if your home becomes uninhabitable. If you live in a coastal area, youÕll probably need to purchase separate windstorm coverage on your house. In areas where coverage is scarce, states sometime offer market assistance programs or joint underwriting associations to help homeowners find a carrier.

(Source: Bank of America )

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Definition and meaning of WLRT :

WLRT: See Women Leaders Round Table. (LI)

(Source: InsWeb)

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Definition and meaning of Waiver of Premium :

Waiver of Premium: A provision of a Life Insurance policy which continues the coverage without further premium payments if the insured becomes totally disabled. (LI)

(Source: InsWeb)

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Definition and meaning of War Clause :

War Clause: A provision excluding liability of an insurer if a loss is caused by war. (LI,H)

(Source: InsWeb)

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Definition and meaning of Wisconsin Life Fund :

Wisconsin Life Fund: The system of state underwritten and issued Life Insurance established by the state of Wisconsin and providing Life Insurance for citizens who apply. Wisconsin is unique among the 50 states in this respect. (LI)

(Source: InsWeb)

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Definition and meaning of Written Business :

Written Business: Insurance on which an application has been taken out but which is not yet delivered and/or the first premium settled. (LI)

(Source: InsWeb)

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Definition and meaning of Watchman Warranty Clause :

Watchman Warranty Clause: A provision often found in a Burglary or Fire policy providing for a reduced premium if there is a watchman on duty. (PR)

(Source: InsWeb)

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Definition and meaning of Water Damage Clause :

Water Damage Clause: A provision affording coverage for certain specified causes of water damage, e.g., damage caused by water leakage, overflow of heating or air-conditioning systems, or plumbing. (PR)

(Source: InsWeb)

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