Home Insurance Glossary - Aleatory Contract

The Definition of "Aleatory Contract" is:

A contract in which one party provides something of value to another party in exchange for a conditional promise, which is a promise that the other party will perform a stated act upon the occurrence of an uncertain event. Insurance contracts are calefactory because the policy owner pays premiums to the insurer, and in return the insurer promises to pay benefits if the event insured against occurs. Contrast with commutative contract.



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A-Share Variable Annuity Absolute Assignment Accelerated Death Benefits Accident And Health Insurance Accidental Death And Dismemberment (AD&D) Benefit Accidental Death Benefit (ADB) Account Receivables Accumulation At Interest Dividend Option Adjustable Life Insurance Adjuster Admitted Assets Admitted Company Adverse Selection Affinity Sales Aftermarket Parts Agency Companies Agent Aleatory Contract Alien Insurance Company Allied Lines Alternative Dispute Resolution (ADR) Alternative Markets Annual Annuity Contract Fee Annual Statement Annuitant Annuitization Annuity Accumulation Phase Or Period Annuity Administrative Charges Annuity Beneficiary Annuity Certain Annuity Contract Owner Annuity Contract Annuity Cost Annuity Date Annuity Death Benefits Annuity Insurance Charges Annuity Investment Management Fee Annuity Issuer Annuity Prospectus Annuity Purchase Rate Annuity Antiselection Antitrust Laws Apportionment Appraisal Arbitration Arson Asset-backed Securities Assets Assigned Risk Plans Assignment Association Group Auto Insurance Policy Auto Insurance Premium Aviation Insurance.
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