what do u mean by umbrella product in finance???

Answer 1

Do you mean umbrella insurance?

Think of what an umbrella does - it covers you. The same thing is probably similar to whatever you are looking at.

Answer 2

Umbrella product is a insurance policy that always has the minimum limit from 1 Million and up. Say, for the rich people who have the Home insurance and the auto insurance but they afraid that sometimes their policy is not sufficient to cover for the loss they cause, so they obtain a umbrella policy to cover the rest expense which they're held liable after their Home or Auto insurance meet the policy limit..... for example: you hit somebody on the street and it cause $500,000.00 to treat person, and your auto policy limit is only $150,000.00, at this time the umbrella policy will kick in help you cover the $350,000.00 left,to prevent you from taking the money out from your own pocket po pay the injured person... But in order to obtain the Umbrella policy you have to maintain your auto policy with limit at least 100/300/100...

Answer 3

It's a comprehensive product designed to fit multiple needs. For example, an umbrella policy in insurance is a policy that covers liabilities not covered by other insurance policies.

Answer 4

The only "umbrella" term I'm familiar with is insurance. It's total liability insurance up to a, generally, high amount. It's the extra insurance for when someone sues following a car accident and your car insurance isn't enough to cover the settlement.

Answer 5

A liability umbrella will give you coverage above and beyond the basic liability of your underlying auto and fire policies.

They are typically sold in amounts of $1 million and up.

I reccomend them to sole proprietors, partners, and people with youthful drivers, as examples.