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Insurance Glossary

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  • Valuable Papers and Records:
    An all risk insurance coverage form that provides coverage for physical loss or damage to valuable papers and records.

  • Variable Annuity:
    An annuity contract in which the amount of each periodic income payment may fluctuate.

  • Variable Life Insurance:
    Life insurance under which the benefits relate to the value of assets behind the contract at the time payment is due.

  • Vesting:
    A provision that a pension participant will, after meeting certain requirements, retain a right to all or part of the accrued benefits, even though the employee may leave the job before retirement.

  • Voluntary Market:
    The market where one obtains insurance in the open market with no help from the state, through an insurer of their own selection.

 
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Insurance Glossary is Copyrighted By Richard H. Reynolds.
Insurance Network of America Uses This Glossary By Permission.

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Important Note: This website provides only a simplified description of coverages and is not a statement of contract. Coverage may not apply in all states. For complete details of coverages, conditions, limits and losses not covered, be sure to read the policy, including all endorsements.

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