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GLOSSARY

 GLOSSARY TERMS by Alpha
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Vacant property
Valuable papers coverage
Valuation
Valued policy
Valued policy law
Vandalism and malicious mischief
Vanishing premium policy
Variable death benefit
Variable Life Insurance
Verbal threshold
Vested commissions
Viatical Settlement
Vicarious liability

Valued policy law

Law that exists in some states which applies primarily to buildings. The laws differ but, in general, they state that in case of a total loss the amount of insurance is the agreed amount of loss.

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