Insurance Glossary

Insurance terms and definitions from Anderson-VanHorne Insurance & Financial Services.

ABCDEFGHIJKLMNOPQRSTUVXYZ

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.


 

 

Website designed and hosted by Insurance Website Builder.
Glossary content provided by Insurance Information Institute.

Securities and advisory services offered through Wall Street Financial Group, Inc., Registered Investment Adviser, Member FINRA/SIPC Wall Street Financial Group, Inc. may only transact business in those states and international jurisdictions where we are registered/filed notice or otherwise excluded or exempted from registration requirements. Any communications with prospective clients residing in international jurisdictions where Wall Street Financial Group, Inc., and its registered representatives are not registered or licensed shall be limited so as not to trigger registration or licensing requirements. Securities are not sold from our 83 South Main St. Canandaigua office. Insurance services from D. Robert Anderson may not be provided to individuals residing in any states other than NY, FL, MD and TX. Insurance services from Spencer Corzine may not be provided to individuals residing in any states other than NY, FL, MD and TX. Insurance products are not offered through Wall Street Financial Group, Inc. Securities services from D. Robert Anderson may not be provided to individuals residing in any states other than AL, CA, DC, FL, MD, NC, NY, SC and TX. Securities services from Spencer Corzine may not be provided to individuals residing in any states other than AL, CA, DC, FL, MD, NC, NY, SC and TX. Advisory services from D. Robert Anderson may not be provided to individuals residing in any states other than CA, FL, NC, NY, NJ and SC.  Advisory services from Spencer Corzine may not be provided to individuals residing in any states other than FL, NC, NJ, NY and SC. Wall Street Financial Group did not assist in the preparation of this material, and its accuracy and completeness are not guaranteed. The opinions expressed are those of the author(s) and are not necessarily those of Wall Street Financial Group, Inc. The material has been prepared or is distributed solely for informational purposes and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Wall Street Financial Group, Inc. is not responsible for information contained on websites listed herein. Wall Street Financial Group, Inc., Anderson-Van Horne Associates, Inc., and companies with websites listed herein are all separate entities, independently owned and operated