Silsbee, Texas. Silsbee is a city in Hardin County, Texas, United States. It is located at the intersection of U.S. Highway 96 and State Highway 327. The population was 6,611 at the 2010 census. It is part of the BeaumontâPort Arthur Metropolitan Statistical Area.
Indeterminate premium life insurance is a type of whole life insurance that specifies two premium rates: a guaranteed maximum, and a lower rate you actually pay. The lower premium level is for a set period of time. Then the company establishes a new rate that may be higher or lower than the initial premium.
Insurance retention (IR) is the portion of an insurance claim not covered by the insurance company. It is that portion of any loss paid by the insured. A deductible is the most common example of insured retention although there are other types of retentions. An insurance deductible on a liability policy is the amount that must be paid or reimbursed by the insured for each claim paid by the insurance company. In the case of third party claims, insurance companies must pay any legitimate covered claim and seek reimbursement of the deductible from their insured.