American Council Of Life Insurance
Definition of "American council of life insurance"
Association of life insurance companies focusing on legislation and public relations that may affect the life insurance business on federal, state, and local levels. Membership is composed of both stock and mutual life insurance companies. The council lobbies to voice the views of the life insurance business in order to influence public opinion and legislation. It also acts as a control source of information on the life insurance business for the public. Located in Washington, D.C.
Popular Insurance Terms
Company that has a capital fund established by contributions from its stockholders in addition to its surplus accounts and reserve accounts. ...
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Term used in the reinsuring of disability income insurance policies in that, after an extended period of time expires (in addition to the elimination period found in the disability income ...
Insurance company that puts together a consortium of insurance and reinsurance companies to provide an adequate financial base with sufficient underwriting capacity to insure large risks. ...
Offer made by the insurance company to insure an applicant, provided the applicant is insurable according to the underwriting standards of the company, and the applicant accepts the offer ...
Cost per unit of insurance. ...
Life insurance under which an insured receives the face value of a policy if the individual survives the endowment period. If the insured does not survive, a beneficiary receives the face ...
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