
Consumer > Glossary of Insurance Terms - T
- Term insurance
- Life insurance under which the benefit is payable only if the insured dies during a specified period. If an insured dies during that period, the beneficiary receives the death payments. If the insured survives, the policy ends and the beneficiary receives nothing.
- Theft
- The taking or removing of property with intent to deprive the rightful owner. It includes such crimes as robbery, burglary, and larceny.
- Title insurance
- Coverage for losses if a land title is not free and clear of defects that were unknown when the title insurance was written. Title insurance protects a purchaser if there is a defect in the title, such as lien against that property that is not discovered at the time of purchase.
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