803-396-7878 |  Locations ☰ ˟
Logo
Find Our Nearest Location
  • Our Agency
    • AboutImage of right arrow
      • Employee Directory
      • Our Location
    • Get A QuoteImage of right arrow
      • Get A Quote
    • Our Providers
    • Community Involvement
    • Contact UsImage of right arrow
      • Fort Mill Office
      • Clover Office
      • York Office
  • Products
    • Home InsuranceImage of right arrow
      • Condo Insurance
      • Homeowner's Liability
      • Property Insurance
      • Flood Insurance
      • Tenants/Renters Insurance
      • Scheduled Property Insurance
    • Auto InsuranceImage of right arrow
      • Uninsured and Underinsured Motorist
      • Classic Car Insurance
      • Personal Injury Protection
      • Rental Reimbursement
      • Liability Coverage
      • Collision Coverage
      • Vanishing Deductible
    • Powersports Vehicle InsuranceImage of right arrow
      • Motorhome Insurance
      • Motorcycle Insurance
      • Boat Insurance
      • ATV Insurance
    • Other Personal InsuranceImage of right arrow
      • Personal Umbrella & Identity Theft
    • Coverage for Specific IndustriesImage of right arrow
      • Accounting Firm Insurance
      • Alarm Contractors Insurance
      • Bar Insurance
      • Box Truck Insurance
      • Builders Risk Insurance
      • Car Dealership Insurance
      • Cargo Insurance and Freight Insurance
      • Catering Insurance
      • Cleaning Business Insurance
      • Construction Insurance
      • Consulting Firm Insurance
      • Contractors Insurance
      • Specialty Trade Contractors Insurance
      • Craft Brewery Insurance
      • Dental Practice Insurance
      • Dump Truck Insurance
      • Educational Facility Insurance
      • Financial Institution Insurance
      • Food Truck Insurance
      • Fleet Insurance
      • Handyman Insurance
      • Garage Insurance
      • Healthcare Facility Insurance
      • Healthcare Practice Insurance
      • HVAC Contractors Insurance
      • Law Firm Insurance
      • Life Science Insurance
      • Limousine Services Insurance
      • Liquor Liability Insurance
      • Livestock Insurance
      • Maintenance Contractors Insurance
      • Manufacturing Insurance
      • Minibus Insurance
      • Non Profit Insurance
      • Personal Trainer Insurance
      • Pharmacist Insurance
      • Pool & Spa Insurance
      • Printers & Publishers Insurance
      • Real Estate Businesses Insurance
      • Restaurant Insurance
      • Retail Insurance
      • Self-Storage Insurance
      • Specialized Truck Equipment Insurance
      • Technology Services Insurance
      • Tractor Insurance
      • Tow Trucks Insurance
      • Veterinary Insurance
    • Coverage for Your BusinessImage of right arrow
      • Bonds
      • Business Catastrophe Insurance
      • Business Owners Policy (BOP)
      • Commercial Auto Insurance
      • Commercial General Liability
      • Commercial Property Insurance
      • Commercial Real Estate Insurance
      • Commercial Umbrella Insurance
      • Crime Insurance
      • Equipment Insurance
      • Errors and Omissions Insurance
      • Fidelity Bonds
      • Loss Control Insurance
      • Inland Marine Insurance
      • Marine Insurance
      • Mechanical Breakdown Insurance
      • Office Insurance
      • Product Liability Insurance
      • Professional Liability
      • Small Business Insurance
      • Small Business Liability Insurance
      • Surety Bonds
      • Technology Insurance
      • Trailer Insurance
      • Transportation Insurance
      • Trucking Insurance and Semi Truck Insurance
      • Workers Compensation
      • Van Insurance
    • Coverage for Your EmployeesImage of right arrow
      • Individual Life Insurance
    • Farm InsuranceImage of right arrow
      • Crop Insurance
      • Farm Owners Insurance
      • Farm Livestock Insurance
      • Equine Insurance
      • Farm Equipment Insurance
      • Farm Dwelling Insurance
      • Farm Structures Insurance
      • Farm Auto Insurance
      • Farm Umbrella Insurance
      • Farm Liability Insurance
  • Get A Quote
    • Auto Insurance Quote
    • Business & CommercialImage of right arrow
      • Business Owners (BOP) Quote Form
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
    • Classic Cars Insurance Request
    • Farm Quote Request
    • Homeowners Insurance Quote
    • Life Insurance Quote
    • Motorcycle Insurance Quote
    • Recreational Vehicle Insurance Quote
    • Renters Insurance Quote
    • Trucking Insurance Quote
    • Umbrella Insurance Quote Request
    • Workers Compensation Insurance Quote
  • Blog
  • Resources
    • Refer a Friend
    • Important Links
    • Insurance Glossary
  • About Us
    • About Us
    • Employee Directory
    • Testimonials
    • Privacy Policy
  • Contact Us
    • Fort Mill Office
    • Clover Office
    • York Office
    • Locations & Hours
    • Get A Quote
Auto and Home Icon

Auto

We browse through a wide variety of coverages and find the right one for you.

Learn More
Business Icon

Home

We browse through a wide variety of coverages and find the right one for you.

Learn More
Trucking Icon

Trucking

We browse through a wide variety of coverages and find the right one for you.

Learn More
RV and Boat Icon

Business

We browse through a wide variety of coverages and find the right one for you.

Learn More
Annuities Icon

Recreational

We browse through a wide variety of coverages and find the right one for you.

Learn More
Home > Glossary > J

Insurance Glossary

Insurance terms and definitions from John Lovsin Agency.


Coverages and benefits listed below may not be available in your state. If available, some optional coverages and benefits might be offered at an additional charge. Contact John Lovsin Agency today to learn more.
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
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.


NOTICE: These glossary definitions provide a brief description of the terms and phrases used within the insurance industry. These definitions are not applicable in all states or for all insurance and financial products. This is not an insurance contract. Other terms, conditions and exclusions apply. Please read your official policy for full details about coverages. These definitions do not alter or modify the terms of any insurance contract. If there is any conflict between these definitions and the provisions of the applicable insurance policy, the terms of the policy control. Additionally, this informational resource is not intended to fully set out your rights and obligations or the rights and obligations of the insurance company, agent or agency. If you have questions about your insurance, you should contact your insurance agent, the insurance company, or the language of the insurance policy.

Insurance Websites Designed and Hosted by Insurance Website Builder
Glossary content provided by Insurance Information Institute and ITC

Contact Us Today!

Social Social

Resources

  • Products
  • Customer Service
  • Payment/Claims
  • About Us
  • Refer A Friend
  • Our Carriers
  • Blog
  • Contact Us

Fort Mill Office

114 Main St.
Fort Mill, SC 29715

P: 803-396-7878

Clover Office

108 Bethel St.
Clover, SC 29710

P: 803-222-9710

York Office

506 E Liberty St.
York, SC 29745

P: 803-684-2096
© Copyright. All rights reserved. | Powered by Insurance Website Builder