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GLOSSARY

 GLOSSARY TERMS by Alpha
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Lapse
Larceny
Latent defect
Leasehold interest insurance
Legal liability
Level Premium Life Insurance
Level term insurance
Liability Insurance
Liberalization clause
Life expectancy
Life insurance
Limited partnership
Limited pay policy
Liquor liability insurance
Living benefits
Loading and unloading exclusion
Long-term care insurance
Loss
Loss limit
Loss ratio
Loss trending
Lost policy release
Lum sum distribution

Lost policy release

A means whereby an insured may cancel a policy by signing a statement to the effect that, since his or her policy has been lost, he cannot return it to the insurer to effect cancellation, but still wishes to cancel the policy.

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