Basic Mortality Table
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 statistics to show a greater or lesser probability of living or dying than is actually expected to occur.
Popular Insurance Terms
Call on a prospective insurance buyer without a prior appointment. Many salespeople find this exercise the most threatening in their career development. Some observers attribute the ...
Individual or other entity who owns an insurance policy. Synonymous with policyowner. ...
Same as term Calendar Year Experience: paid loss experience for the period of time from January 1 to December 31 of a specified year (not necessarily the current year). ...
To transfer a risk from an insurance company to a reinsurance company. ...
Salesperson who markets and services insurance policies in the state in which he or she is domiciled. ...
Individual who has a contractual agreement with a policyowner. The agent of record has a legal right to commissions from the insurance policy. ...
Trade group of independent claims adjusters who settle claims for insurance companies on a fee basis. Some insurers use their own staff adjusters to settle a claim. Others use an ...
Phrase describing a form of joint tenancy ownership where property passes to the survivors when one party dies. ...
Rule that provides four requirements for monitoring the independent agent distribution system: The insurance company must be involved in the training of the independent agent. The ...
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