{"id":402,"date":"2010-07-31T18:42:07","date_gmt":"2010-08-01T01:42:07","guid":{"rendered":"https:\/\/maysfinancial.local\/"},"modified":"2017-02-26T02:02:05","modified_gmt":"2017-02-26T02:02:05","slug":"indemnity-vs-non-indemnity","status":"publish","type":"post","link":"https:\/\/maysfinancial.local\/articles\/indemnity-vs-non-indemnity\/","title":{"rendered":"Indemnity vs. Non-Indemnity, What&#8217;s the Difference?"},"content":{"rendered":"<p>Insurance can be broken down into two groups, <span style=\"font-weight: bold;\">indemnity<\/span> and <span style=\"font-weight: bold;\">non-indemnity<\/span>.\u00a0 For example, property insurance is indemnity insurance while life insurance is non-indemnity insurance.<\/p>\n<p><span style=\"font-weight: bold;\">Indemnity<\/span> means that the insured is entitled to a specific amount of compensation for a loss that is tied to a <span style=\"font-weight: bold;\">replacement, reimbursement, or fair-market value<\/span>. The primary difference is that with indemnity insurance, there is <span style=\"font-weight: bold;\">no &#8220;profit&#8221;<\/span> so to speak.<\/p>\n<p><span style=\"font-weight: bold;\">Non-indemnity<\/span> insurance tends to cover things with <span style=\"font-weight: bold;\">no real replacement value.<\/span> The amount of compensation received <span style=\"font-weight: bold;\">cannot be directly correlated<\/span> with the loss.\u00a0 For example, life insurance is non-indemnity insurance because you <span style=\"font-weight: bold;\">cannot place a value or a cost of replacement on a person&#8217;s life.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Insurance can be broken down into two groups, indemnity and non-indemnity.\u00a0 For example, property insurance is indemnity insurance while life insurance is non-indemnity insurance. Indemnity means that the insured is entitled to a specific amount of compensation for a loss that is tied to a replacement, reimbursement, or fair-market value. The primary difference is that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3990,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[2,22,8],"tags":[89],"_links":{"self":[{"href":"https:\/\/maysfinancial.local\/wp-json\/wp\/v2\/posts\/402"}],"collection":[{"href":"https:\/\/maysfinancial.local\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/maysfinancial.local\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/maysfinancial.local\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/maysfinancial.local\/wp-json\/wp\/v2\/comments?post=402"}],"version-history":[{"count":0,"href":"https:\/\/maysfinancial.local\/wp-json\/wp\/v2\/posts\/402\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/maysfinancial.local\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/maysfinancial.local\/wp-json\/wp\/v2\/media?parent=402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/maysfinancial.local\/wp-json\/wp\/v2\/categories?post=402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/maysfinancial.local\/wp-json\/wp\/v2\/tags?post=402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}