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GLOSSARY

 GLOSSARY TERMS by Alpha
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Package policy
Paid-up Insurance
Pair and set clause
Para-Med (Paramedical)
Para-Med (Paramedical) Examination
Partial Surrender
Participating GIC
Participating Policy
Partnership
Penalty
Performance Bond
Peril
Period of restoration
Periodic payment plan
Permanent Life Insurance
Personal articles floater
Personal auto policy
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Personal liability insurance
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PMI
Policy
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Policy Loan
Policy surrender
Policy year
Policyowner
Portability
Portfolio Manager
Power-of-attorney
PPO
Pre-existing conditions
Preferred risk
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Primary beneficiary
Primary insurance
Prior Approval
Private Mortgage Insurance
Probate costs
Products Liability
Professional Insurance Agents (PIA)
Professional liability
Property Damage Coverage
Property Inventory
Provisions

Pair and set clause

Clause that stipulates that partial loss to a pair or set of items will be valued in terms of the lost item, not on the basis of reduced value of the pair or set.

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