- Valuable Papers and Records:
An all risk insurance coverage form that provides coverage
for physical loss or damage to valuable papers and records.
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- Variable Annuity: An annuity
contract in which the amount of each periodic income payment
may fluctuate.
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- Variable Life Insurance: Life
insurance under which the benefits relate to the value of
assets behind the contract at the time payment is due.
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- Vesting: A provision that a
pension participant will, after meeting certain requirements,
retain a right to all or part of the accrued benefits, even
though the employee may leave the job before retirement.
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- Voluntary Market: The market
where one obtains insurance in the open market with no help
from the state, through an insurer of their own selection.
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