What is a floater sum?

angrymouse

Floater sum is a type of insurance coverage that pays for the replacement value of your personal belongings in the event that they are damaged or destroyed in a covered event, such as a fire or theft. It is important to note that floater sum does not cover the actual cash value of your belongings, but rather the cost to replace them.

happydog

A floater sum is an extra amount of money that is added to an insurance policy to cover the costs of unexpected expenses. This money is usually added to the policyholder's death benefit, so that their loved ones can use it to pay for final expenses or other expenses that may come up after the policyholder's death.

blackladybug656

A floater sum is a type of insurance policy that pays out a sum of money if the policyholder dies. The policyholder generally pays premiums for the policy for a specified period of time, after which the policy pays out a death benefit to the beneficiaries.

Harsh984

A floater sum is a dollar amount that an insurance company will pay out in the event of a loss. This amount is typically based on the amount of coverage that you have purchased.

kahaan_vernekar

A floater sum is a type of insurance policy that provides coverage for a specific amount of money in the event of the policyholder's death. The coverage amount is typically determined by the policyholder's age, health, and lifestyle.

ticklishbear932

A floater sum is a function of a discrete-time insurance system, in which the payments on an insurance policy are proportional to the number of claims made during the policy period.