Title insurance is coverage purchased by buyers of real estate to protect against issues of title. In a real estate transaction, a title company or another institution will conduct a title search for any erroneous issues with the title, and...
insurance
underwriter
An underwriter is an institutional financial organization that assesses and assumes another party’s risk for a fee. Underwriters operate in the context of (1) securities offerings and (2) insurance.
(1) In the context of...
underwriting
The act of assuming a risk by insuring it, e.g., the insurance of life or property. The act of agreeing to buy all or part of a new issue of securities to be offered for public sale.
See also underwriter; insurance; Securities
uninsured motorist clause
Uninsured motorist clause is part of some car insurance policies which provides coverage for bodily injuries of the driver and their passengers if (1) the other driver did not have car insurance and (2) the other driver was at fault. Not...
universal life insurance
Universal life insurance is a type of life insurance that lasts for the life of the insured and has flexible premiums, death benefits, and cash value. Universal life insurance operates similarly to whole life insurance in that the insured...
variable life insurance
Variable life insurance is a form of whole life insurance that accumulates cash value on a tax-deferred basis. Variable life insurance operates similarly to a mutual fund because the insured pays premiums that go into a separate investment...
variable universal life insurance
Variable universal life insurance refers to universal life insurance policies where the policy holder chooses how the cash value of the account is invested. Like any universal life insurance, these policies allow flexible premiums and death...
whole life insurance
Whole life insurance (also referred to as permanent life insurance) refers to life insurance policies that are meant to last until death and have an investment aspect. As long as the person pays the required premiums, the insurance policy...