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.
Source: tdi.texas.gov

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notice: this document is for informational purposes only and is not intended to alter or replace the insurance policy. additionally


A insurance policy with an accelerated death benefits provision will pay - under certain conditions - all or part of the policy death benefits while the policyholder is still alive. These conditions include proof that the policyholder is terminally ill with a life expectancy of less than 12 months, has a specified life-threatening disease or is in [..]
Source: tdi.texas.gov

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accident


An unforeseen, unintended event.
Source: tdi.texas.gov

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accident


only policies - Policies that pay only in cases arising from an accident or injury.
Source: tdi.texas.gov

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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.
Source: tdi.texas.gov

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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."
Source: tdi.texas.gov

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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.
Source: tdi.texas.gov

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adjuster


An individual employed by an insurer to evaluate losses and settle policyholder claims. Also see "public insurance adjuster."
Source: tdi.texas.gov

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administrative expense charge


An amount deducted, usually monthly, from the policy.
Source: tdi.texas.gov

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agent


A person who sells insurance policies.
Source: tdi.texas.gov


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