UMBRELLA POLICY
Coverage for losses above the limit of an underlying policy or policies such as homeowners and auto insurance. While it applies to losses over the dollar amount in the underlying policies, terms of coverage are sometimes broader than those of underlying policies.

UNBUNDLED CONTRACTS
A form of annuity contract that gives purchasers the freedom to choose among certain optional features in their contract.

UNCLAIMED LIFE INSURANCE BENEFITS
Life insurance benefits that are unclaimed and unpaid because the beneficiaries are not aware that the policies exist or cannot locate the policies because they do not know which insurance company wrote them. If an insurance company knows that an insured died and cannot find the beneficiary, the money is transferred to the state where the insured bought the policy.

UNDERINSURANCE
The result of the policyholder's failure to buy sufficient insurance. An underinsured policyholder may only receive part of the cost of replacing or repairing damaged items covered in the policy.

UNDERWRITING
Examining, accepting, or rejecting insurance risks and classifying the ones that are accepted, in order to charge appropriate premiums for them.

UNDERWRITING INCOME
The insurer's profit on the insurance sale after all expenses and losses have been paid. When premiums are not sufficient to cover claims and expenses, the result is an underwriting loss. Underwriting losses are typically offset by investment income.

UNEARNED PREMIUM
The portion of a premium already received by the insurer under which protection has not yet been provided. The entire premium is not earned until the policy period expires, even though premiums are typically paid in advance.

UNINSURABLE RISK
Risks for which it is difficult for someone to get insurance. (See Insurable risk)

UNINSURED MOTORISTS COVERAGE
Portion of an auto insurance policy that protects a policyholder from uninsured and hit-and-run drivers.

UNIVERSAL LIFE INSURANCE
A flexible premium policy that combines protection against premature death with a type of savings vehicle, known as a cash value account, that typically earns a money market rate of interest. Death benefits can be changed during the life of the policy within limits, generally subject to a medical examination. Once funds accumulate in the cash value account, the premium can be paid at any time but the policy will lapse if there is not enough money to cover annual mortality charges and administrative costs.

UTILIZATION REVIEW
See Medical utilization review

Epstein Insurance Services, Licensed Home, Health, Life and Auto Insurance Agent.
Personal and Commercial Insurance, California State License # 0495709
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Authorized Independent Agent serving in Apple Valley, Barstow, San Bernardino, Blythe, Calexico, Calipatria, Cathedral City, Chino Hills, Corona, Desert Hot Springs, El Centro, fontana, Hemet, Hesperia, Indio, Lake Elsinore, Loma Linda, Menifee, Moreno Valley, Murrietta, Ontario, Palm Desert, Palm Springs, Perris, Phelan, Rancho Cucamonga, Redlands, Rialto, Riverside, San Jacinto, Sun City, Temecula, Twentynine Palms, Victorville, Wildomar, Yucca Valley and other residents of California.