Waiting Period:
The length of time an employee must wait from a date of
employment or application for coverage, to the date
his/her insurance is effective.
Waiver:
An agreement attached to a insurance policy which
exempts from coverage certain disabilities or injuries that
otherwise would be covered by the policy.
Waiver of Premium:
A provision in some policies to continue premium
payments due during a period of continuous total disability
that has lasted for a specified length of time.
Whole Life Insurance:
A life insurance policy that allows benefits to be payable
to a beneficiary at the death of the insured whenever that
occurs. Premiums may be payable for a specified number
of years (limited payment life) or for life (straight life).
Will:
A legal statement of an individual's wishes concerning the
disposal of his or her property after death.
Workers Compensation:
A system established under state law that provides
payments, without regard to fault, to employees injured in
the course and scope of their employment.
Workers' Compensation Insurance:
Insurance against liability imposed on certain employers to
pay benefits and furnish care to employees that are:
injured, killed, or are sick due to occupational hazards.
Written Premiums:
The total amount of premiums written in a year for all
polices issued by an insurance company.
