What is the Definition of Futures in Insurance Terms?
Agreement to buy a security for a set price at a certain date. Futures contracts usually involve commodities, indexes or financial futures.
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
Other Questions: What is the definition of Annuity?
What is the Definition of Futures in Insurance Terms?
You can find random definition and meaning of insurance terms below:
Meaning of Options in Insurance Terms
Contracts that allow, but do not oblige, the buying or selling of property or assets at a certain date at a set price.
Meaning of Ordinance Or Law Coverage in Insurance Terms
Endorsement to a property policy, including homeowners, that pays for the extra expense of rebuilding to comply with ordinances or laws, often building codes, that did not exist when the building was originally built. For example, a building severely damaged in a hurricane may have to be elevated above the flood line when it is rebuilt. This endorsement would cover part of the additional cost.
Meaning of Ordinary Life Insurance in Insurance Terms
A life insurance policy that remains in force for the policyholder’s lifetime.
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