Glossary
Umbrella Liability Policy: A liability policy designed to provide liability protection above and
beyond that provided by standard liability contracts.

Under-Insurance: A condition in which not enough insurance is carried to cover the
insurable value, and, especially, to satisfy a coinsurance clause.

Underinsured Motorist Bodily Injury Coverage (UIM): A form of auto insurance that
protects the insured if hit by a legally liable individual who does not carry enough insurance
to cover damages.

Underwriter: (1) A person trained in evaluating risks and determining the rates and
coverages that will be used for them; (2) An agent, especially a life insurance agent, who
might qualify as a "field underwriter."

Uninsured Motorist Coverage (UM): A form of auto insurance that protects the insured if
he/she is hit by a legally liable individual that is uninsured.

Universal Life Insurance: A flexible premium policy offering protection against premature
death combined with a cash value account that earns a money market rate of interest.

The above information is for general informational purposes only and is not to be
construed as a recommendation or advice in any way shape or form.
Copyright © 2016 Stephen W. Gersh Insurance Agency, Inc.  All rights reserved.
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