InsuranceDB
106 entries on insurance types, concepts, history, and regulation. From term life and Medicare to cyber coverage, reinsurance, and the mechanics of premiums and claims, understand how protection is priced and paid.
Key Topics
Term Life Insurance
Coverage is pure protection with no savings component, which keeps premiums far below permanent insurance for the same face amount...
Whole Life Insurance
Part of each premium pays for protection and part builds cash value, credited with a guaranteed interest rate and often a dividend...
Medicare
Part A covers hospital stays and is premium free for most based on payroll taxes paid while working. Part B covers physician and o...
Homeowners Insurance
The dominant HO-3 form covers the dwelling for all perils except named exclusions and contents for named perils such as fire, wind...
Auto Liability Coverage
Split limits such as 50/100/50 mean 50,000 dollars per injured person, 100,000 per accident, and 50,000 for property damage. Nearl...
Umbrella Insurance
It pays when an underlying liability limit exhausts, extends to claims the base policies exclude, such as libel, slander, and some...
Flood Insurance
In the United States the National Flood Insurance Program dominates, delivering most policies through private carriers with reside...
Reinsurance
Primary insurers, called cedents, buy it to smooth catastrophe volatility, protect surplus against large losses, gain capacity to ...
Moral Hazard
Once covered, people may guard less against loss, from leaving doors unlocked to filing borderline claims, and insurers cannot wat...