Package Policy
A solitary insurance policy that joins several cove rages formerly sold discretely. Examples embrace homeowners insurance and marketable numerous threat insurance.

Paid-Up Insurance
Assurance on which all necessary finest have been compensated.

Partial Disability
A disability that prevents a person from performing one or more functions of his or her regular job.

Par In Force
Total par value of obligations currently outstanding under policies written to date.

Participating Insurance
Cover on which the policyholder is permitted to divide in the excess earnings of the company through policy extras that reflect the dissimilarity between the premium exciting and the cost to the company of providing the insurance.

Participating Policy
Strategy below which the policyholder is suitable to receive extras.

Pay At The Pump
A scheme future in the 1990s in which auto insurance premiums would be paid to state governments during a per gallon add-on gasoline.

Payout Period
The time during which you believe the income from your allowance contract.

Pensions
Plans to present employees with leaving income after they assemble minimum age and service necessities. Life insurers clutch some of these funds. Since the 1970s liability for funding departure has increasingly distorted from employers

Pension Benefit Guaranty Corporation
An self-governing national government agency that manager the Pension Plan execution Insurance program to make sure that vested benefits of employees whose pension plans are being ended are paid when they come due.

PEO
Qualified employee association that small businesses may join in order to increase access to more reasonable health insurance premiums.

Performance Notes
Explanation issued by insurer share companies to lenders whose refund terms are geared to the routine of an associated book of advance risk.

Peril
A explicit risk or cause of loss sheltered by an insurance policy, such as a blaze, twister, flood, or stealing. A named peril policy wraps the policyholder only for the danger named in the policy in dissimilarity to an all-risk policy, which covers all causes of loss excluding those particularly excluded.

Personal Articles Floater
A strategy or an addition to a policy second-hand to cover personal plunder, like jewels or furs.

Permanent Life Insurance
A expression used to coat any form of life insurance apart from term; normally insurance that accrues cash value, such as whole life or donation.

Personal Injury Protection
Reporting to pay basic fixed cost for an insured and his or her family in situations with no liability auto insurance.

Personal Injury Protection Coverage
Part of an auto insurance plan that covers the conduct of injuries to the driver and traveler of the policyholder’s car.

Personal Lines
Sufferer insurance products that are planned for and bought by persons, including homeowners and vehicle policies.

Physician's Expense Insurance
Reporting that provides reimbursement toward the cost of doctor's fees for surgical care in the hospital, at home, or in a physician office, and for x-rays or laboratory tests executed outside of a infirmary.

Point Of Service Plan
Fitness insurance policy that permits the worker to choose between in complex and out of complex care each time medical treatment is desired.

Policy
A written agreement for insurance flanked by an insurance company and policyholder stating information of coverage. The printed file issued to the policyholder by the company stating the provisos of the insurance bond.

Policyholder
The human being who owns a life insurance policy. This is frequently the insured person, but it may also be a family member of the insured, a joint venture or a company.

Policyholder Dividend Ratio
The percentage of extras to policyholders paid to earned finesse.

Policyholders Surplus
The sum of money residual after an insurer’s liabilities are deducted from its assets. It acts as a economic cushion above and away from reserves, protecting policyholders touching an unexpected or shattering situation.

Policy Loan
Beneath an insurance policy, the amount that can be rented at a particular rate of interest from the issuing company by the policyholder, who uses the value of the policy as guarantee for the loan.

Policy Reserves
The compute of the funds that a life insurance company holds purposely for execution of its policy compulsions.

Policy Term
The epoch for which an insurance policy offers reporting.

Political Risk Insurance
Reporting for businesses in service overseas against loss due to supporting upheaval such as war, rebellion, or elimination of property.

Pollution Insurance
Strategies that cover possessions loss and responsibility arising from pollution-related compensation, for locations that have been inspected and originate antiseptic.

Pool Insurance
Insurance of puddles of 'A' or 'prime' mortgages. The coverage is a percentage of the original aggregate unpaid balance of the puddle.

POS
Top of Service plans are extra flexible than HMOs, but they also fancy you to decide a main Care Physician. Depending on your insurance company's system, you may rather to visit a doctor external the network and still find coverage ù but the amount enclosed will be substantially less than if you went to a physician surrounded by your complex

Precertification
A procedure management plan that requirements the insured or the physical condition care provider to prepared the insurer preceding to a hospitalization or surgical development. The notification permits the insurer to approve payment, as well as to recommend interchange tracks of achievement.

Pre Disability Earnings
This is the quantity of an employee's income or salary that was in effect and covered by the desk on the day earlier than the disability commence.

Pre Existing Condition
Any physical and emotional condition or situation that live prior to the successful date of physical situation insurance reporting.

Preferred Provider Organization
PPOs give policyholders a fiscal incentive ù reasonable co-payments ù to stay inside the assembly complex of practitioners. You may go to any professional without permission, as extensive as the doctor participates in the complex. Network of medical foundations which accuse on a fee for check foundation, but are paid on a discussed, inexpensive fee record.

Premises
The challenging place of the possessions or a piece of it as chosen in an insurance policy.

Premium
The payment, or one of the typical periodic payments, that a policyholder produces to own an insurance policy.

Premiums Earned Net
Sickening premiums customary less premiums noticeable on business conceded to reinsures. The amount of character established for in move in front that are constructs by desirable eminence of the finish of risk.

Premiums In Force
The calculation of the facial appearance amounts, plus extra embellishments, of life insurance policies breathtaking at a individual time.

Premium Loan
A approach loan made for the top of paying premiums.

Premium Revenue
Network premiums benefit allowance and subsidize deposit.

Premium Tax
A condition tax on premiums compensated by its inhabitants and businesses and jointly by insurers.

Premiums Written
The whole premiums on all policies written by an insurer through a specified stage of time, despite of what piece have been make.

Premiums Written Net
Disgusting premiums printed less premiums conceded to reinsures. Total premiums established from all sources counting reinsurance unspoken from further insurers.

Prepaid Group Practice Plan
A plan below which specified physical condition services are rendered by participating doctors to an enrolled set of persons, with a unchanging periodic payment finished in advance by every person or relations.

Pretax Operating Income
Pretax takings after policyholder payments less realized property gains.

pretax income
Proceeds after policyholder extras, but before central income taxes and without capital gains/losses.

Primary Company
In a reinsurance deal, the insurance company that is reinsured.

Primary Insurance
The insurance of an person mortgage.

Primary Insurer
An insurer that straight presumes liabilities by issuing an insurance strategy to the assured.

Primary Market
Market for new matter securities someplace the proceeds go straight to the issuer.

Prime Rate
Curiosity rate that stores charge to their nearly all creditworthy customers. Banks set this pace according to their rate of funds and market services.

Principal
The sum you pay into your allowance agreement as illustrious from the interest that is attributed to it.

Principal Sum
Amount allocated in a swelling sum in the incident of accidental loss and, in some cases, accidental dismemberment.

Prior Approval States
Situations where insurance companies ought to file proposed rate alters with state regulators, and increase support before they can go into result.

Private Placement
Securities that are not recorded with the Securities and exchange Commission and are sold straight to depositors.

Product Liability
A piece of tort law that concludes who may prosecute and who may be sued for reimbursement when a faulty product injures somebody.

Product Liability Insurance
Protects manufacturers and distributors experience to lawsuits by public who have continuous bodily damage or goods damage through the use of the item for consumption.

Property Casualty
Possessions insurance wraps spoil to or beating of the policyholder's goods. Casualty envelops the policyholder's lawful liability for indemnity and injuries sourced to others.

Proration
Alteration of policy profit because of modifies in the insured's occupation or the procure of other assurance.

Professional Liability Insurance
Wraps proficient for negligence and faults or omissions that injure their customers.

Proof Of Loss
Documents viewing the insurance company that a beating happens.

Property/Casualty
Plasters spoil to or loss of policyholder’s assets and legal liability for compensation caused to other people or their goods.

Property/Casualty Insurance
Coats harm to or loss of policyholders’ property and permissible liability for damages sourced to other people or their assets.

Property/Casualty Insurance Cycle
Commerce business rotation with recurrent periods of hard and soft marketplace situation. In the 1950s and 1960s, cycles were standard with three year stages each of hard and soft market conditions in around all lines of property casualty insurance.

Prospective Payment
Compensation of a swelling sum to an foundation for care of an insured individual based on a programmed amount associated with a judgment.

Public Adjuster
Spokesperson hired by a policyholder to approximation indemnity and signifies the policyholder in conference with an insurance company. Regularly hired when there is general damage to a house, for illustration.

Purchasing Group
An article that tenders insurance to clusters of similar businesses with comparable exposures to danger.

Pure Life Annuity
A figure of allowance that ends payments when the annuitant expires. Payments may be permanent or changeable.