Confidence Level
Percentage of confidence in a finding. For example, if an insurance company's total loss reserves should be $10,000,000 in order to attain an 80% confidence level that enough money will be available to pay anticipated claims, then, in 8 times out of 10, after all claims have been settled the total claims paid out will be less than $10,000,000. Conversely, in 2 times out of 10 the total claims paid out will be greater than $10,000,000.
Popular Insurance Terms
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Trust that cannot be revoked by the creator. ...
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Injury that does not qualify either for partial or total disability income under a disability income or Workers Compensation policy. ...
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Time interval between the date benefits end under Social Security and the date these benefits resume. For example, survivor benefits are paid only as long as the parent (if less than age ...
Tax assessed by the states as a payroll tax on employers to pay for unemployment compensation ...
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