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A notice of lapse in coverage: If you receive a homeowners insurance policy lapse letter, contact your insurance carrier or agent right away and make any past-due payments. Once you have ...
As an AOL member you can now have access to a wide variety of digital tools and insurance products to protect the life you’re building and to keep accidents from landing you in debt. AOL MyLifeProtected makes it easier for you to navigate the insurance buying process and understand the market-leading insurance plans that best meet your insurance needs.
Term. Meaning. Appraisal. An appraisal is a detailed assessment of either the property or property damage. An appraisal is written by an adjuster to estimate the amount of damage from a loss.
An irrevocable beneficiary has a guaranteed right to receive the death benefit from your life insurance policy, and their consent is required for any changes that affect their rights.
The change to the policy may cause a change in the premium: an increase is often called AP (for an additional premium) whereas a decrease is often called RP (returned premium). An additional transaction may also be payable to cover e.g. costs for revised insurance documents.
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