Insurance | Britannica

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Insurance, a system under which the insurer, for a consideration usually agreed upon in advance, promises to reimburse the insured or to render services to the insured in the event that certain accidental occurrences result in losses during a given period. It thus is a method of coping with risk. Its primary function is to substitute certainty for uncertainty as regards the economic cost of loss-producing events.

Insurance relies heavily on the “law of large numbers.” In large homogeneous populations it is possible to estimate the normal frequency of common events such as deaths and accidents. Losses can be predicted with reasonable accuracy, and this accuracy increases as the size of the group expands. From a theoretical standpoint, it is possible to eliminate all pure risk if an infinitely large group is selected.

From the standpoint of the insurer, an insurable risk must meet the following requirements:

1.

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Service-Disabled Veterans Insurance (S-DVI) – Life Insurance

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Service-Disabled Veterans Insurance (S-DVI)

What is S-DVI?

The Service-Disabled Veterans Insurance (S-DVI) program was established in 1951 to meet the insurance needs of certain Veterans with service-connected disabilities. S-DVI is available in a variety of permanent plans as well as term insurance. Policies are issued for a maximum face amount of $10,000.

Who Can Apply for S-DVI?

You can apply for S-DVI if you meet the following 4 criteria:

  1. You were released from active duty under other than dishonorable conditions on or after April 25, 1951.
  2. You were rated for a service-connected disability (even if only 0%).
  3. You are in good health except for any service-connected conditions.
  4. You apply within 2 years from the date VA grants your new service-connected disability.

Note: An increase in an existing service-connected disability or the granting of individual unemployability of a previously rated condition does not entitle a Veteran to this insurance.

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America’s Most Recognized Supplemental Insurance Company

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Individual coverage is underwritten by American Family Life Assurance Company of
Columbus. In
New York, coverage is underwritten by American Family Life Assurance Company of New
York.

Worldwide Headquarters | 1932 Wynnton Road | Columbus, GA 31999

†One Day PaySM is available for certain individual claims submitted
online
through the Aflac SmartClaim® process. Claims may be eligible for One Day Pay
processing if
submitted online through Aflac SmartClaim®, including all required documentation, by
3 p.m.
ET. Documentation requirements vary by type of claim; please review requirements for
your
claim(s) carefully. Aflac SmartClaim® is available for claims on most individual
Accident,
Cancer, Hospital, Specified Health, and Intensive Care policies. Processing time is
based on
business days after all required documentation needed to render a decision is received
and no
further validation and/or research is required. Individual Company Statistic, 2019.

‡ “2018
Aflac
WorkForces Report
“.

*The information provided

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Property Insurance | USAGov

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Learn about the different types of insurance for your property.

Auto Insurance

Auto insurance protects you from paying the full cost for vehicle repairs and medical expenses due to a collision. Some factors that affect the premiums you pay for this protection, include your:

  • Gender
  • Age
  • Marital status
  • Credit history
  • Car’s make and model
  • City and neighborhood

Types of Auto Insurance

Every state requires drivers to have auto insurance. If you don’t have insurance, you must have financial responsibility waivers. These waivers ensure that you can pay for property damages or medical expenses. There are several components that can make up your insurance policy: 

  • Liability coverage protects you if you are at fault for a collision. It pays for medical expenses and vehicle damage for the other driver and passengers. 
  • Uninsured motorist coverage pays for damages to your car and medical expenses if an uninsured driver hits your car.
  • Collision
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Insurance | Military.com

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Insurance can be incredibly confusing, especially for military personnel.  We have a different set of unique circumstances, some of which can be hard to sort through when it comes to insurance.  Oftentimes, being in the military can save quite a bit of money on everything from car insurance to personal property insurance. For some, overseas insurance is needed, for others, just making sure their PCS move goes smoothly is most important.  We’ve provided dozens of helpful insurance articles to sort out everything you need to know about policies, regulations and most importantly…how to save money!

Are you looking for more details about auto insurance for military members? Do you need to protect your belongings while you are being relocated and need to avoid the pitfalls?  What about registration help for a vehicle you are shipping to Europe? Need help making sense of your SGLI benefits? We’ve got you covered.  Utilize

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Insurance Quotes – Compare Auto,Health,Home and Life Insurance

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Getting Insurance Quotes Made Simple

You don’t have to be an expert to get a good deal on your insurance premiums — that’s what we’re here for. Whether it’s auto, home, life or health insurance, and no matter what stage of life you’re in, we can educate you on how insurance works to protect you, your family and your assets. We also break down how pricing works, explain how much insurance you need for your particular situation and guide you through the buying process so you can be sure you’re getting the best deal on the right policy.

Smart ways to get online insurance quotes

  1. Compare multiple companies When you’re shopping for insurance quotes to find the best rates, and best fit for your family’s needs, you need to obtain free insurance quotes from multiple companies. Our experts say always choose three or more to compare.
  2. Compare apples to apples
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Auto, Home, and Life Insurance

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* Savings are based on our 2018 countrywide research of new call center customers’ annual average savings in 2017. Statistics do not reflect sales of the product sold on MetLife Auto & Home MyDirect®

Like most group benefit programs, benefit programs offered by MetLife and its affiliates contain certain exclusions, exceptions, waiting periods, reductions, limitations and terms for keeping them in force. Please contact MetLife or your plan administrator for complete details.

Disability insurance is issued by Metropolitan Life Insurance Company on IDI2000-P/NC, IDI2000-P/NC-ML, IDI2000-P/GR, AH 5-88, AH 6-90, AH 7-96-CA, AH 8-96-CA and IDIP12-01-IDIP12-05, IDIP12-08. April 2014 All policies, riders and provisions may not be available in all states, at all issue ages and to all occupational classes. Ask your representative for complete details. Eligibility is subject to underwriting approval. For policies issued in New York: These policies provide disability income insurance only. They do NOT provide basic

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Insurance Definition

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What Is Insurance?

Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. The company pools clients’ risks to make payments more affordable for the insured.

Insurance policies are used to hedge against the risk of financial losses, both big and small, that may result from damage to the insured or her property, or from liability for damage or injury caused to a third party.

How Insurance Works

There is a multitude of different types of insurance policies available, and virtually any individual or business can find an insurance company willing to insure them—for a price. The most common types of personal insurance policies are auto, health, homeowners, and life. Most individuals in the United States have at least one of these types of insurance, and car insurance is required by law.

Key Takeaways

  • Insurance
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Insurance – AOL Video Search Results

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Yahoo!

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Insurance – Wikipedia

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An advertising poster for a Dutch insurance company from c. 1900–1918 depicts an armoured knight.

Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.

An entity which provides insurance is known as an insurer, insurance company, insurance carrier or underwriter. A person or entity who buys insurance is known as an insured or as a policyholder. The insurance transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer’s promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms, and usually involves something in which the insured has an insurable interest established by ownership, possession, or pre-existing relationship.

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