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tdi.texas.gov
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Definitions (190)
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policy owner
The person or party who owns an individual insurance policy. This person may be the insured, the beneficiary, or another person. The policy owner usually is the one who pays the premium and is the only person who may make changes to a policy.
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accident
An unforeseen, unintended event.
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accident
only policies - Policies that pay only in cases arising from an accident or injury.
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accidental death benefits
If a life insurance policy includes an accidental death benefit, the cause of death will be examined to determine whether the insured´s death meets the policy´s definition of accidental.
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actual cash value
The value of your property, based on the current cost to replace it minus depreciation. Also see "replacement cost."
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additional living expenses
Reimburses the policyholder for the cost of temporary housing, food, and other essential living expenses, if the home is damaged by a covered peril that makes the home temporarily uninhabitable. Policies cap the amount of ALE payable to 20 percent of the policy's dwelling coverage.
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adjuster
An individual employed by an insurer to evaluate losses and settle policyholder claims. Also see "public insurance adjuster."
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agent
A person who sells insurance policies.
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