Glossary
Plain-language definitions of insurance terms.
- Water Backup Coverage
- An add-on that covers damage from water backing up through sewers or drains, or from a sump-pump failure, situations a standard policy usually excludes.
- Whole Life
- Life insurance that covers you for your entire life and includes a cash-value component. More expensive than term life.
- Workers' Compensation
- Coverage that pays medical costs and lost wages for employees injured on the job. Most states require it once a business has employees.
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