permanent insurance


permanent insurance
A policy of insurance under which the insurer agrees to be and remain forever liable to the insured, his heirs and assigns. Marshall v Franklin Fire Ins. Co. 176 Pa 628, 35 A 204. The policy issued after consideration of an application for insurance, as distinguished from a binder or temporary insurance.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • permanent insurance fund — A fund established pursuant to federal statute for insuring deposits in banks insured by the Federal Deposit Insurance Corporation. 12 USC § 1821; 10 Am J2d Bks § 427. See state insurance fund …   Ballentine's law dictionary

  • insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… …   Black's law dictionary

  • insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… …   Black's law dictionary

  • Permanent life insurance — is a form of life insurance such as whole life or endowment, where the policy is for the life of the insured, the payout is assured at the end of the policy (assuming the policy is kept current) and the policy accrues cash value. This is compared …   Wikipedia

  • Permanent employment — Permanent employees or regular employees work for a single employer and are paid directly by that employer. In addition to their wages, they often receive benefits like subsidized health care, paid vacations, holidays, sick time, or contributions …   Wikipedia

  • insurance — in·sur·ance /in shu̇r əns, in ˌshu̇r / n 1: the action, process, or means of insuring or the state of being insured usu. against loss or damage by a contingent event (as death, fire, accident, or sickness) 2 a: the business of insuring persons or …   Law dictionary

  • Insurance Premium Tax (UK) — Insurance premium tax (IPT) is a tax paid by some insurance companies and insurance brokers that sell taxable insurance [Insurance premium tax, Business Link, [http://www.businesslink.gov.uk/bdotg/action/detail?type=RESOURCES itemId=1074407748] ] …   Wikipedia

  • permanent health insurance — noun A type of insurance that provides an income in cases of prolonged absence from work because of illness or disability (abbrev PHI) • • • Main Entry: ↑permanent …   Useful english dictionary

  • permanent health insurance — (PHI) A contractual benefit offered to employees that provides them with income if they become permanently disabled and unable to work in the capacity in which they were previously employed. Practical Law Dictionary. Glossary of UK, US and… …   Law dictionary

  • insurance — /in shoor euhns, sherr /, n. 1. the act, system, or business of insuring property, life, one s person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a… …   Universalium


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