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Glossary of Terms - U

Underwriting

The process an insurance company uses to evaluate the risk presented by an applicant and to calculate an appropriate life insurance premium.

Uninsured/Underinsured Motorist Coverage

Part of a standard auto insurance policy that provides coverage for losses you and others suffer when you're involved in an accident with a "hit-and-run" driver, or a driver without adequate insurance (or with no insurance).

Unsecured

A pledge or promise of payment to a creditor or obligor that is not supported by or guaranteed with collateral.  

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