Accredited Advisor In Insurance (AAI)
professional designation earned after the successful completion of three national examinations given by the insurance institute of America (IIA). Covers such areas of expertise as insurance production (insurance sales, exposure identification, legal liability, personal lines insurance, commercial lines insurance); multiple-lines insurance production; and agency operations and sales management. Program of study is recommended for individuals who have production responsibilities.
Popular Insurance Terms
In a mercantile open-stock burglary insurance policy, the dollar amount of coverage as required by the COINSURANCE clause. This dollar amount is the MAXIMUM PROBABLE LOSS (MPL) of ...
Plan under which an employee may make a rollover contribution. If that contribution is from a qualified trust, the employee may make rollover contributions to an employer's qualified trust, ...
Relinquishment of rights to benefits when an employee withdraws previous contributions to a plan. An employee who had not withdrawn these contributions would have been entitled to full ...
Type of guaranteed investment contract in which funds for the contract are placed in the insurance company's separate account. ...
Coverage when a director or officer of a company commits a negligent act or omission, or misstatement or misleading statement, and a successful libel suit is brought against the company as ...
Mortality table that reflects irregularities from age to age due to chance fluctuations in the sequence of the rates of mortality. The rates of death as reflected by the mortality table in ...
Independent, nonprofit, membership medical-surgical plan. Benefits cover expenses associated with medical and surgical procedures. The physician and/or surgeon bills the Blue Shield plan ...
Individual action or failure to act as a reasonably prudent person would under similar circumstances, resulting in harm to another. Also called negligence. A reasonably prudent person is ...
Accounting method used to reduce income taxes on distributions from qualified pension or retirement plans. Ten-year averaging was repealed by the tax reform act of 1986 but is still ...
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