What is the Definition of Adjustable Life Insurance?
A form of life insurance that allows policy owners to vary the type of coverage provided by their policies as their insurance needs change.
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 Insurance?
What is the Definition of Adjustable Life Insurance?
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What is the Meaning of PROFESSIONAL LIABILITY INSURANCE In Insurance Terms?
Covers professionals for negligence and errors or omissions that injure their clients.
What is the Meaning of PROOF OF LOSS In Insurance Terms?
Documents showing the insurance company that a loss occurred.
What is the Meaning of PRODUCT LIABILITY In Insurance Terms?
A section of tort law that determines who may sue and who may be sued for damages when a defective product injures someone. No uniform federal laws guide manufacturer’s liability, but under strict liability, the injured party can hold the manufacturer responsible for damages without the need to prove negligence or fault.
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