Serving North East Ohio Area
Let us help you
440.461.7311
Home Page

 

 

Insurance Glossary

Insurance terms and definitions from Brainard Insurance Agency Inc.


Coverages and benefits listed below may not be available in your state. If available, some optional coverages and benefits might be offered at an additional charge. Contact Brainard Insurance Agency Inc. today to learn more.
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
JOINT AND SURVIVOR ANNUITY
An annuity with two annuitants, usually spouses. Payments continue until the death of the longest living of the two.

JOINT UNDERWRITING ASSOCIATION / JUA
Insurers which join together to provide coverage for a particular type of risk or size of exposure, when there are difficulties in obtaining coverage in the regular market, and which share in the profits and losses associated with the program. JUAs may be set up to provide auto and homeowners insurance and various commercial coverages, such as medical malpractice

JUNK BONDS
Corporate bonds with credit ratings of BB or less. They pay a higher yield than investment grade bonds because issuers have a higher perceived risk of default. Such bonds involve market risk that could force investors, including insurers, to sell the bonds when their value is low. Most states place limits on insurers’ investments in these bonds. In general, because property/casualty insurers can be called upon to provide huge sums of money immediately after a disaster, their investments must be liquid. Less than 2 percent are in real estate and a similarly small percentage are in junk bonds.


NOTICE: These glossary definitions provide a brief description of the terms and phrases used within the insurance industry. These definitions are not applicable in all states or for all insurance and financial products. This is not an insurance contract. Other terms, conditions and exclusions apply. Please read your official policy for full details about coverages. These definitions do not alter or modify the terms of any insurance contract. If there is any conflict between these definitions and the provisions of the applicable insurance policy, the terms of the policy control. Additionally, this informational resource is not intended to fully set out your rights and obligations or the rights and obligations of the insurance company, agent or agency. If you have questions about your insurance, you should contact your insurance agent, the insurance company, or the language of the insurance policy.

Insurance Websites Designed and Hosted by Insurance Website Builder
Glossary content provided by Insurance Information Institute and ITC

Get An Instant Quote






Refer Referrals
We love referrals! And thank you even more for your continued business.
Policies Customer Service
Self policy service any time of the day, directly from our website.
Newsletter Join Our Newsletter
Stay in touch with the latest events, news and offers we have.

Knowledge and Expertise

About Us 

Brainard Insurance Agency, Inc. is a professional, independent agency with the customer in mind. We have relationships with dozens of insurance companies, allowing you to get the right price with the right service.

Testimonials


Our Latest Blogs

Read More Read More Read More
Our Office Connect With Us

Main Office
    NEW LOCATION
5420 Mayfield Road #102
Lyndhurst, OH 44124

See More Locations...

Contact Us Today!

PH: 440.461.7311
                      
FX: 440.461.7412

Our Employee Directory
  Blog
Your Trusted Advisor
 
Home Get A Quote Customer Service Resources About Us Contact Powered by Insurance Website Builder