A Special Message To Our Valued Policyholders:

While the Coronavirus has brought disruption and uncertainty to our lives, we want you to know we remain committed to providing you dependable insurance service. We are considered an Essential Service and are open to serve you. While we normally welcome your in person visit to our office, it currently is in all of our best interests to conduct business by phone or email.

We are taking extra precautions while we remain open, such as additional cleaning of surfaces and distancing as much as possible. If you are member of the population most vulnerable to the virus, and believe you need to visit our office, please call to schedule an appointment. We will schedule a time to limit your exposure.

Please know that we have plans in place to continue to serve you, should we be required to temporarily close our office in the future, and work from home.

For those of you facing challenging economic conditions due to the Coronavirus, please know that many of the insurance companies we represent are aware of these resulting financial difficulties for policyholders. Therefore they are making special provisions, such as delaying cancellation notices if a payment is not received. Please call us for more information, as each insurance carrier is handling this differently.

Our thoughts and prayers are with our health care professionals, government leaders and all those affected by this situation. We hope you and your loved ones remain safe and healthy!

Insurance Glossary

Insurance terms and definitions from Homer Yost 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 Homer Yost 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