Date Of Subscription Of The Policy

Same as term: Actuarial Science: branch of knowledge dealing with the mathematics of insurance, including probabilities. It is used in ensuring that risks are carefully evaluated, that ...

Insurance company's net investment income divided by its invested assets. The greater the yield, the better the investments that are being made. ...

Policy that pays a specified sum not related in any way to the extent of the loss. The term applies to a life insurance policy rather than to a contract of indemnity because the former does ...

Provision in an insurance policy that permits an insured to cancel the policy and recoup the excess of the paid premiums above the customary short rate for the expired time. The clause also ...

The term pro rata cancellation comes from the Latin term pro rata, which means in proportion or according to a certain rate. The term pro rata cancellation is used in the insurance business ...

Monthly income payment from a disability income insurance policy made to the insured wage earner when income has been interrupted or terminated because of illness, sickness, or accident ...

Coverage for a shipper (owner/sender) for property damage or loss of goods in transit through the post office. A trip transit insurance policy specifically excludes coverages on property ...

Pension funding agreement under which funds paid into a retirement plan are not currently allocated to purchase retirement benefits. The funds of one plan can not be commingled with funds ...

Sum total of all assets owned by the decedent to include personal property, real property, and trust property. ...