What is the Definition of Options in Insurance Terms?

What is the Definition 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.

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 Options in Insurance Terms?

You can find random definition and meaning of insurance terms below:


What is the meaning of Mechanical Breakdown Insurance

Covers repairs to all mechanical parts of the car, protecting you from expensive repair bills.


What is the meaning of Medical Claim Examiner

The medical claim examiner is responsible for reviewing all medical bills, replacement/essential services, and lost wages submitted to the company for injuries sustained by you and/or the passengers in your vehicle (depending upon the state in which you live and the coverage on your policy).


What is the meaning of Medical Payments Coverage

Pays medical expenses related to an automobile accident. This coverage is subject to the terms, limits and conditions of your policy contract.


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