Valuable Papers and Records:
An all risk insurance coverage form that provides coverage for
physical loss or damage to valuable papers and records.
Variable Annuity:
An annuity contract in which the amount of each periodic income
payment may fluctuate.
Variable Life Insurance:
Life insurance under which the benefits relate to the value of
assets behind the contract at the time payment is due.
Vesting:
A provision that a pension participant will, after meeting certain
requirements, retain a right to all or part of the accrued benefits,
even though the employee may leave the job before retirement.
Voluntary Market:
The market where one obtains insurance in the open market with
no help from the state, through an insurer of their own selection.
