Renters Insurance
A form of insurance that covers a renter’s posessions against perils such as fire, theft, windstorm, explosion, vandalism, and others. It also provides personal liability coverage for damage the renter or family members cause to other people in addition to other things that standard homeowners policies cover.

Term
Relating to a contract of health insurance that makes no provision for renewal or termination other than by expiration of the policy term. Life insurance issued for a term of years, after which it expires without value.

Whole Life Insurance
Cash value life insurance which combines protection against premature death with a savings account. Premiums are at fixed rates and guaranteed and remain the same throughout the life of the policy.

Underinsured Motorist
Is coverage for any bodily injury resulting from the operation of a motor vehicle, which is covered under a liability policy at the time of the injury causing occurrence.

Additional Initial Claim
An additional unemployment claim filed after a break in unemployment claims, which results from an intervening employment period within the benefit year.

Extended Coverage
A clause added to an insurance policy that provides additional coverage for risks not covered in a basic policy.

Lapsed Policy
A policy that has terminated for non-payment of premiums.

Umbrella Liability Insurance
A policy that "floats" above your other coverage. You must carry a certain amount of underlying liability coverage before you may buy an umbrella policy.

Endowment Insurance
A form of life insurance payable to the insured if living at the end of the endowment period or to a beneficiary if the insured dies before the endowment date.

Underwriter
A person trained in evaluating risks and determining what rates and coverages that will be used for them.