Prepaid legal insurance coverage plan sold on a group basis.

When you take out a mortgage, the lender seeks protection for their investment by requiring lender’s title insurance against losses resulting from claims made by others against your new home. This policy does not protect you nor does the seller’s title insurance policy protect you.

Coverage for a policyholder’s legal liability resulting from injuries to other persons or damage to their property as a result of an auto accident.

Coverage for all sums that the insured becomes legally obligated to pay because of bodily injury or property damage, and sometimes other wrongs, to which an insurance policy applies.

A policy that will pay a specified sum to beneficiaries upon the death of the insured.

Maximum amount a policy will pay either overall or under a particular coverage.

The amount which can be borrowed at a specified rate of interest from the issuing company by the policyholder, using the value of the policy as collateral. In the event the policyholder dies with the debt partially or fully unpaid, then the amount borrowed plus any interest is deducted from the amount payable.