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Simple English definitions for legal terms

perpetual policy

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A quick definition of perpetual policy:

A perpetual policy is a type of insurance policy that stays in effect until one of the parties decides to end it. It is also called a continuous policy. Insurance policies are contracts that protect people from financial loss due to accidents or other events. There are many different types of insurance policies, such as life insurance, homeowner's insurance, and commercial general-liability insurance. Insurance companies use a process called insurance rating to determine how much to charge for a policy. Insurance pools are groups of insurers that share premiums and losses to spread the risk. The Insurance Services Office is a nonprofit organization that provides services and tools to the insurance industry.

A more thorough explanation:

A perpetual policy is an insurance policy that remains effective without renewal until one of the parties terminates it according to its terms. This means that the policy will continue indefinitely until either the insurer or the insured decides to end it.

For example, a life insurance policy may be a perpetual policy that remains in effect until the insured person dies or until the policy is cancelled by the insurer or the insured. Another example is a property insurance policy that remains in effect until the property is sold or until the policy is cancelled.

Perpetual policies are useful for people who want long-term coverage without having to worry about renewing their policy every year. However, they may also be more expensive than policies that require renewal because the insurer is taking on more risk by providing coverage for an indefinite period.

perpetually renewable lease | perpetual statute

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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