Insurance terms starting with W

6 terms

1. Waiting Period The time between the date of application and the policy effective date.
2. Waiver Of Premium A provision that sets certain conditions under which an insurance policy would be kept in full force by the company without the payment of premiums.
3. Watercraft Endorsement Applies to small motorboats and sailboats and broadens your personal liability and medical payments coverage on them.
4. Wave Height Adjustment A measurement that is added to the base flood elevation for V Zones shown on the Flood Insurance Rate Map published prior to 1981.
5. Whole Life Insurance (Straight Life or Permanent Life) A plan of insurance for life, with premiums payable for a person's entire life.
6. Write Your Own (WYO) Program A cooperative undertaking of the insurance industry and FEMA begun in October 1983.