Insurance terms can be confusing. Thankfully, Wisconsin-Michigan Insurance Agency is here to help you comprehend these tricky words.
Accident an unexpected event or circumstance without deliberate intent.
insurance for unforeseen bodily injury.
an insurance company formed according to the laws of a foreign country. The company must conform to state regulatory standards to legally sell insurance products in that state.
accounting statement showing the financial condition of a company at a particular date.
Calendar Year Deductible
in health insurance, the amount that must be paid by the insured during a calendar year before the insurer becomes responsible for further loss costs.
a request made by the insured for insurer remittance of payment due to loss incurred and covered under the policy agreement.
Date of Issue
date when an insurance company issues a policy.