Admitted Company

Audit of the convention blank (NAIC Statement Blank) every third year as to all of the financial activities of a company; company claim practices; and general policy owner relations. ...

Maximum amount of insurance coverage that an underwriter will write on a particular class of property or risk exposure. ...

Same as term Conditional Sales Floater: coverage for the seller of property on an installment or conditional sales contract if it is damaged or destroyed. For example, a television set is ...

Amount that the owner of a life insurance policy can borrow at interest from the insurer, up to the cash surrender value. If interest is not paid when due, it is deducted from any remaining ...

Facilities for senior adults who pay an entrance fee to move into the facility as well as a monthly fee. The adults receive, in return, a place to live and long-term care usually for the ...

Mortality table that is a picture of the actual living and/or dying of the population (the universe) upon which the mortality table is based. No additions or subtractions are made to these ...

Contributions to a pension plan on a fixed basis according to a formula, with variable benefits. Contributions can be made under an allocated funding instrument (paid to an insurance ...

Plan under the employee retirement income security act of 1974 (ERISA) for employees who are less than 50% vested. An employee must be permitted to buy back retirement benefits lost because ...

Provision in corporate life insurance policies that allows coverage to be transferred to a new individual with proof of insurability, for a premium appropriate to the age of the new ...