noun
1.
An Appraisal happens just before an insurance Policy is put into effect and is undertaken by the insurance company. The objective of an Appraisal is to determine property’s current replacement cost in the event of a loss. This step is helps ensure that a policyholder is not over- or under-insured.
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Your family's needs and assets are critical considerations when determining how much life insurance to invest in. Use this four-step process to help you calculate how much life insurance you need.