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What is an occurrence-based insurance policy? An occurrence-based policy covers losses that happen during the time you have the policy, regardless of when you file a claim. It is designed to protect you against long-tail events – incidents that could cause injury or damage years after they occur.


In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the insured, known as the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.


Liability insurance policies are either "occurrence-based" or "claims-based." An occurrence-based policy provides insurance coverage for a loss that "occurred" during the policy period, no matter when the claim is brought against the insured.


Claims made vs. occurrence policy. It costs less than an occurrence policy, but run the risk of not being covered for a potential claim because you didn't discover it until after your policy expired.


Usage-based insurance (UBI) also known as pay as you drive (PAYD) and pay how you drive (PHYD) and mile-based auto insurance is a type of vehicle insurance whereby the costs are dependent upon type of vehicle used, measured against time, distance, behavior and place.


Variable Life Insurance Policy: A variable life insurance policy is a form of permanent life insurance . Variable life insurance provides permanent protection to the beneficiary upon the death of ...


Insurance can offer peace of mind if you know you're protected against the unexpected. You can find an insurance policy to cover almost anything imaginable but some are more deserving than others of a place in your financial plan.As you map your financial future, these four types of insurance should be firmly on your radar.


Want to know how the average cost of life insurance changes based upon your policy, age and health? We've researched life insurance rates for a wide variety of profiles to help give you an idea of what you may be paying in premiums for a new policy.


Like most group life insurance policies, MetLife group policies contain certain exclusions, reductions, limitations, and terms for keeping them in force. Please contact MetLife for costs and complete details. Group Term Life is issued by Metropolitan Life Insurance Company, New York, NY 10166. Policy Form GPNP99.


There’s nothing worse than experiencing the feeling and threat of being canceled. It's not only upsetting, but it can be embarrassing. If an insurance policy is canceled, or you may have trouble finding insurance later, or have to pay more for insurance in the long run because it will impact your insurance credit score.Fortunately, there are some cases where an insurance company may start ...