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Tampa Office:
(813) 739-8705
Margate Office:
(954) 623-6164
Tollfree:
(866) 882-8209
 
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V
VALUED POLICY
A policy under which the insurer pays a specified amount of money to or on behalf of the insured upon the occurrence of a defined loss. The money amount is not related to the extent of the loss. Life insurance policies are an example.
 
VANDALISM
The malicious and often random destruction or spoilage of another person’s property.
 
VARIABLE ANNUITY
An annuity whose contract value or income payments vary according to the performance of the stocks, bonds and other investments selected by the contract owner.
 
VARIABLE LIFE INSURANCE
A policy that combines protection against premature death with a savings account that can be invested in stocks, bonds, and money market mutual funds at the policyholder’s discretion.
 
VARIABLE PREMIUM LIFE INSURANCE POLICY
See Indeterminate premium life insurance policy
 
VARIABLE UNIVERSAL LIFE (VUL) INSURANCE
A form of permanent life insurance that combines the premium and death benefit flexibility of universal life insurance with the investment flexibility and risk of variable life insurance. With this type of policy, the death benefit and the cash value fluctuate according to the contract’s investment performance. Also known as universal life II.
 
VIATICAL SETTLEMENT COMPANIES
Firms organized for the sole purpose of buying life insurance policies. The companies assume the premium payments, and collect the face value of the policy upon the policyholder’s death.
 
VOID
A policy contract that for some reason specified in the policy becomes free of all legal effect. One example under which a policy could be voided is when information a policyholder provided is proven untrue.
 
VOLATILITY
A measure of the degree of fluctuation in a stock’s price. Volatility is exemplified by large, frequent price swings up and down.
 
VOLCANO COVERAGE
Most homeowners policies cover damage from a volcanic eruption.
 
VOLUME
Number of shares a stock trades either per day or per week.
 
1st Capital Insurance
3302 W Cypress St Suite#105 Tampa, FL 33607
  Toll Free: 866-882-8209
  Telephone: 813-739-8705
  Fax: 813-739-8718
2515 N. State Rd 7 Suite#213 Margate, FL 33063
  Telephone : 954-623-6164
  Fax: 954-623-6181
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