GLOSSARY OF INSURANCE TERMS
     
 
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Waiting Period
In order to become suitable for exposure under some group physical condition and disability insurance policies, an human being must make happy a certain number of continuous days of check as an active, full time employee.

Waiver
The submit of a right or advantage. In life insurance, a condition that sets positive conditions, such as disablement, which allow exposure to stay behind in force without imbursement of premiums. An agreement fond of to the policy and usual by the insured, to eradicate a specified preexisting physical situation or specified hazard.

Waiver Of Premium
While an personality becomes suitable for benefits, no more disability premium payments are compulsory as long as profit are being paid out.

War Risk
Particular coverage on shipment in overseas ships next to the risk of being confiscated by a government in period of war. It is excluded from usual ocean nautical insurance and can be purchased separately.

Water-Damage Insurance Coverage
Safety provided in nearly all homeowners insurance policies next to sudden and accidental water damage, from split open pipes for example.

Weather Derivative
An insurance or securities product second hand as a hedge by power related businesses and others whose sales be likely to fluctuate depending on the climate.

Weather Insurance
A kind of business interruption insurance that compensates for financial fatalities caused by distasteful climate conditions, such as invariable rain on the day scheduled for a major outdoor performance.

Whole Life Insurance
The oldest type of cash value life insurance that combines protection against premature death with a savings account. A plan of insurance for life, with premiums allocated for a person's complete life.

Windstorm Insurance
Twister coverage pays for wounded to your property that effect from a windstorm. The coverage acts like a downpour or earthquake policy in that it pays for spoil to the dwelling, and, in some cases, for spoil to your personal assets and for living expenses if your home becomes uninhabitable.

Workers Compensation
Insurance that pays for checkup care and bodily rehabilitation of wounded workers and helps to reinstate lost wages while they are not capable to work. Liability insurance requiring positive employers to pay benefits and provide medical care to employees for on the job injuries, and to pay benefits to dependents of employees killed by occupational accidents.


Workplace Modification Or Accommodation
This disability insurance promote is designed to supply assistance to an employer when a disabled employee requires variation of the workplace or unusual adaptive equipment in order to revisit to work.

Wrap Up Insurance
Expansive policy coordinated to envelop liability exposures for a great group of businesses that have something in general.

Write
To insure, endorse, or acknowledge an application for insurance.

Written Premiums
The whole amount in premiums payable in a year for all policies issued by an insurance company.