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R
Rebating
An insurance sales practice that is prohibited in most of the United States and Canada.In rebating, the agent offers the prospect a special inducement to purchase a policy. The rebate is usually made in the form of a share of the agent's commission.
Rider
An amendment to an insurance policy that becomes a part of the insurance contract and expands or limits the benefits payable. Also called an endorsement.
Page last updated September 23, 2009