Certain types of light machinery and electrical equipment may be found to be ‘not working’ although there are no outward signs of damage. It is usual in marine insurance to exclude this type of loss.
This entry was posted in . Bookmark the permalink.
A provision in Life Insurance contracts for death benefits that, in the early years of the contract, are less than the face amount of the policy, but that increase with the passage of time. Most commonly found in juvenile policies issued at or near age zero.