Assessable Insurance Law and Legal Definition
Assessable insurance is a form of life or property insurance policy in which the insured is liable for additional premiums if the loss exceed premium income. Here the rate of premium is assessed on the basis that a higher rate can be charged later, if the increased risk warrants. It is also called as assessment insurance.
Legal Definition list
Related Legal Terms
- Accelerated Life Insurance Benefits
- Accident Insurance
- Accidental Death and Dismemberment [Insurance]
- Accommodation Line [Insurance]
- Accountants Professional Liability Insurance
- Accounts Receivable Insurance
- Actual Cash Value Insurance
- Actual Delivery of Insurance Policy
- Actuarial Documents [Federal Crop Insurance Corporation]
- Actuarially Appropriate [Federal Crop Insurance Corporation]
