Actual Cash Value
Actual Cash Value
An amount equivalent to the fair market value of the stolen or damaged property immediately preceding the loss. For real property,
this amount can be based on a determination of the fair market value of the property before and after the loss.
For vehicles, this amount can be determined by local area private party sales and dealer quotations for comparable vehicles.
Grace Period
Grace Period
A specified period immediately following the premium due date during which a payment can be made to continue a policy in force without interruption. This applies only to Life and Health policies. Check your policy to be sure that a grace period is offered and how many days, if any, are allowed.
Guaranteed Insurability
An option that permits the policy holder to buy additional stated amounts of life insurance at stated times in the future without evidence of
Actual Cash Value
Actual Cash Value
An amount equivalent to the fair market value of the stolen or damaged property immediately preceding the loss. For real property,
this amount can be based on a determination of the fair market value of the property before and after the loss.
For vehicles, this amount can be determined by local area private party sales and dealer quotations for comparable vehicles.
Grace Period
Grace Period
A specified period immediately following the premium due date during which a payment can be made to continue a policy in force without interruption. This applies only to Life and Health policies. Check your policy to be sure that a grace period is offered and how many days, if any, are allowed.
Guaranteed Insurability
An option that permits the policy holder to buy additional stated amounts of life insurance at stated times in the future without evidence of