Age Setback
Subtraction of a number of years from a standard table of life insurance rates under the assumption that a particular group-women-outlive men and presumably will be paying premiums for a longer time. For example, a 38-year-old woman may pay the same premiums as a 35-year-old man. Age setback is a women's rights issue, with at least one state having legislated that men and women the same age must be charged the same rates for the life insurance they buy.
Popular Insurance Terms
Federal act composed of amendments to the Product Liability Risk Retention Act of 1981 and enacted to make the procedures more efficient for creating risk retention groups (capitalized, ...
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Care in a sanitarium, nursing home, or other facility designed to provide custodial care on behalf of the mental and physical well-being of the patient. The cost may or may not be provided ...
Sample of n elements selected from a population of A? elements in such a way that the sample has essentially the same characteristics as the population. The random sample serves as the ...
Classification of occupations according to the degree of risk inherent in that occupation. ...
Amount received by the policyholder if the policy is canceled, benefits are reduced, or the premium is reduced. ...
Contract sold by insurance companies that pays a monthly (quarterly, semiannual, or annual) income benefit for the life of a person (the annuitant). The annuitant can never outlive the ...
In property insurance, contract section providing for reimbursement for removal of debris resulting from an insured peril. The amount of reimbursement under the homeowners insurance policy ...
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