Learn about open policy in property insurance including its definition, how it's used for goods in transit, and the benefits it offers. Understand the specifics of liability limits and premium payments.
Learn about out-of-area health insurance coverage, which refers to treatment provided outside the usual geographic coverage area. Get insights into how it works and what to expect.
Learn about out-of-pocket costs in health insurance, including deductibles and prescription medication expenses. Discover how they impact your healthcare expenses.
Learn about outstanding premiums in general insurance, referring to premiums that are currently due but have not yet been paid. Understand the importance and implications of outstanding premiums in policy management.
Explore the concept of occupancy in property insurance. Learn how the use of a property can affect insurance policy rates and why it is important.
Explore the concept of Offset Rider in health insurance, including how it reduces benefits by accounting for the insured’s social security benefits.
Learn about the Ordinary Life Pension Trust—how it funds through life insurance contracts, offers death benefits to employees, and transitions to retirement benefits.
Learn about ordinary payroll in property insurance, which encompasses payroll expenses for all employees except executives, contract employees, and company officers.
Learn about the concept of overriding commission in general insurance, where agents or brokers receive a commission on business sold by subagents. Explore its significance and impact in the insurance sector.
Explore the various ways life insurance policyholders can choose to receive dividends, death benefits, or nonforfeiture values. Find out which options best suit your needs.
Discover the role of an obligee (surety) in the context of bonds and insurance. Learn how it compares to the insured in an insurance policy and understand its importance.
Learn about the Occupational Safety and Health Act (OSHA), a federal statute enforced by the Labor Department to uphold safety and health standards nationwide. Understand the role of safety inspectors and the importance of injury statistics records.
Learn about Old Age Survivors Disability and Health Insurance (OASDHI), a system established by the Social Security Act in 1935 providing benefits for the elderly, disabled workers, and surviving dependents.
Learn about the open enrollment period in health insurance, during which you can switch plans without needing proof of insurability. Ensure you make informed decisions about your health coverage.
Discover what the Outline of Coverage in Health and Life Insurance entails. Learn about its role in summarizing benefits, coverage, exclusions, and premiums, and how it functions as a preliminary overview for insurance applicants.
Explore overage insurance, a specialized health coverage designed for individuals over 65, providing crucial health benefits even beyond the usual age limit.
Discover how overhead expense insurance safeguards business owners by covering rent, utilities, and employee salaries when they become disabled. Learn more about this crucial disability insurance.
Explore what Occurrence Coverage in Liability Insurance entails, including how it provides coverage for losses occurring within the policy's term, regardless of when the claim is made.
Learn about Other Insurance, which refers to other contracts covering the same property and perils. Essential for comprehending overlapping insurance coverages.
Learn about overlapping insurance which involves insurance from at least two insurers duplicating the coverage for some risks. Discover its implications, benefits, and common scenarios.
Explore the concept of ownership in life insurance, defining control over benefits and privileges and explaining ownership transfer.
Explore the 'Other Insurance Clause'—a key component in insurance policies detailing the protocol when another insurance contract covers the same property. Learn its importance in general insurance, excluding life and health insurance.
Discover what an Occupational Manual is in the realm of general insurance terms. Learn how it classifies various occupations for better risk assessment and insurance coverage.
Learn about the term 'Offeror' in the context of general insurance terms. Discover what an offeror is and their role in the insurance process.
