Call Us 888-242-9922 ☰ ˟
Logo
Call Us: 888-242-9922
  • Home
  • Personal Center
    • See All Products
    • AutomobileImage of right arrow
      • Mexican Insurance
      • SR-22 Insurance
    • HomeownersImage of right arrow
      • Earthquake
      • Auto and Homeowners Insurance
      • Flood
    • Condominium
    • Renters
    • Landlord Insurance
    • High Value Home Insurance
    • Mobile Home Insurance
    • Personal Umbrella Insurance
    • Recreational Vehicle
    • Motorcycle
    • Off-Road Vehicles Insurance
    • Watercraft & Boat
    • Classic Car
    • Special Events Insurance
  • Business Center
    • See All Products
    • Business
    • General Liability Insurance
    • Professional LiabilityImage of right arrow
      • D & O Insurance
      • Errors & Omissions
      • Employment Practices Liability
      • Malpractice
      • Professional Liability Insurance
    • Property InsuranceImage of right arrow
      • Apartment Buildings
      • Vacant Buildings
      • Builder's Risk
      • Garage Insurance
      • Landlord Insurance
    • Workers Compensation
    • Cyber Insurance
    • Product Liability Insurance
    • Excess/Commercial Umbrella
    • Bonds
  • Commercial Center
    • See All Products
    • Commercial Auto
    • Tow Trucks
    • Transportation
    • Livery
    • Sand & Gravel
    • Intermodal
    • Liability
    • Motor Truck Cargo
    • Physical Damage
  • About Us
    • Directory
    • Event Calendar
    • Our Location
    • State Licenses
    • Privacy Policy
    • Refer a Friend
    • Employment Opportunities
    • Contact Us
  • Get A Quote
  • Client Login
  • Customer Service
    • Automobile InsuranceImage of right arrow
      • Request ID Card for Auto Policy
      • Request Declaration and Coverages Page for Auto Policy
      • Send Declaration and Coverages Information to Lien Holder
    • HomeownersImage of right arrow
      • Request Declaration and Coverages for Existing Homeowners Insurance Coverage
      • Request Evidence of Insurance
    • RentersImage of right arrow
      • Request Declaration and Coverages Page for Existing Renters Insurance Coverage
    • MotorcycleImage of right arrow
      • Request Declaration and Coverages Page for Motorcycle Policy
      • Request ID Card for Motorcycle Policy
    • Business & CommercialImage of right arrow
      • Request ID Card for Commercial Auto Policy
      • Request Declaration and Coverages Page for Commercial Auto Policy
      • Request General Liability Certificate of Insurance
    • Recreational VehicleImage of right arrow
      • Request ID Card for Recreational Vehicle Policy
      • Request Declaration and Coverages Page for Recreational Vehicle Policy
    • Watercraft & BoatImage of right arrow
      • Request ID Card for Watercraft Policy
      • Request Declaration and Coverages Page for Watercraft Policy
Icon

Commercial Auto

Business Auto, Tow Truck, Dump Truck, Truck Tractors, Van, Food Truck, Trailer Exchange, Refer Coverage, Motor Cargo, Permit Filings & More…

More Info
Icon

Business Insurance

General Liability, Business Owners Policy, Workers' Comp, Errors & Omissions, Directors & Officers, Employment Practices, Cyber Protection, Bonds & More…

More Info
Icon

Personal Insurance

Auto, Motorcycles, Boats, RV’s, Home, Renters, Condos, Mexican Insurance, Flood, Earthquake, Special Events & More…

More Info
Home > Glossary > J

Insurance Glossary

Insurance terms and definitions from Best Formula Insurance Services, Inc.


Coverages and benefits listed below may not be available in your state. If available, some optional coverages and benefits might be offered at an additional charge. Contact Best Formula Insurance Services, Inc. today to learn more.
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
JOINT AND SURVIVOR ANNUITY
An annuity with two annuitants, usually spouses. Payments continue until the death of the longest living of the two.

JOINT UNDERWRITING ASSOCIATION / JUA
Insurers which join together to provide coverage for a particular type of risk or size of exposure, when there are difficulties in obtaining coverage in the regular market, and which share in the profits and losses associated with the program. JUAs may be set up to provide auto and homeowners insurance and various commercial coverages, such as medical malpractice

JUNK BONDS
Corporate bonds with credit ratings of BB or less. They pay a higher yield than investment grade bonds because issuers have a higher perceived risk of default. Such bonds involve market risk that could force investors, including insurers, to sell the bonds when their value is low. Most states place limits on insurers’ investments in these bonds. In general, because property/casualty insurers can be called upon to provide huge sums of money immediately after a disaster, their investments must be liquid. Less than 2 percent are in real estate and a similarly small percentage are in junk bonds.


NOTICE: These glossary definitions provide a brief description of the terms and phrases used within the insurance industry. These definitions are not applicable in all states or for all insurance and financial products. This is not an insurance contract. Other terms, conditions and exclusions apply. Please read your official policy for full details about coverages. These definitions do not alter or modify the terms of any insurance contract. If there is any conflict between these definitions and the provisions of the applicable insurance policy, the terms of the policy control. Additionally, this informational resource is not intended to fully set out your rights and obligations or the rights and obligations of the insurance company, agent or agency. If you have questions about your insurance, you should contact your insurance agent, the insurance company, or the language of the insurance policy.

Insurance Websites Designed and Hosted by Insurance Website Builder
Glossary content provided by Insurance Information Institute and ITC

Contact Us Today!
888-242-9922

Social Social Social Social Social Social

Resources

  • Products
  • Customer Service
  • Payment Options
  • Report a Claim
  • News
  • About Us
  • Refer A Friend
  • Blog
  • Contact Us

Corporate Office

3560 Santa Anita Ave., Suite K
El Monte, CA 91731

P: (888) 242-9922 | F: (626) 452-0393 | Text: (626) 340-1080
© Copyright. All rights reserved. | Powered by Insurance Website Builder