Insuring oneself or one’s business through savings or investments instead of purchasing insurance coverage.
s - insuranceology
Protecting against losses by setting aside your own money instead of using conventional insurance.
Refers to property owned solely by one of the spouses in a marriage. This concept can be particularly significant in connection with the regulations that affect community property.
Disposition of a claim or policy benefit.
The person who executes a deed to convey title to property, or who creates a trust. Also called a creator, grantor, donor, or trustor.
Coverage that lasts less than one year in duration.
A disability insurance policy that pays benefits only for a limited period of time (e.g., 26 weeks or one year).
Life insurance policy in which premiums, ownership rights, and death benefit proceeds are split between an employer and an employee.
A statutory right of a surviving spouse to receive a specified share of the decedent’s estate instead of accepting the distribution made in the will.
A power of attorney that ‘springs’ into effect when the principal becomes disabled. The advantage of this type of power is that no authority is granted over the principal’s assets until some triggering event (usually some physical or mental incapacity) … Continued