Plain-English definitions for the terms you'll encounter on your financial journey.
Dependency and Indemnity Compensation is a tax-free benefit paid to eligible surviving spouses or children of military service members who died in the line of duty. It acts as a financial safety net to support the families left behind by those who served our country.
A life insurance clause that doubles the standard payout to the beneficiary if the insured person dies as a result of an accident.
A fundamental insurance principle where the insurer provides compensation to restore the policyholder to their financial state before the loss occurred.