Glossary

Insured Perils Coverage

DEFINITION

Insured perils coverage protects you only against the specific risks named in the policy, such as fire, theft, or water damage.

ELI5

This insurance covers only the problems listed on the paper. If fire or theft is listed, those are covered, but anything not listed is not.

Other related terms

Exclusions

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Reversionary Bonus

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Fixed Deposits

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Statement of Accounts (SOA)

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