Deductive Reasoning
Observance of an event occurring on a repeated basis that leads one to believe that a certain probability is attached to the occurrence of that event. For example, if there are a red ball and a blue ball in a bag, and each color ball is drawn one-half of the time, we come to believe that each color ball has a one-half probability of being drawn at any one time.
Popular Insurance Terms
Model state law of the NAIC that stipulates that the contract owner must receive annual reports concerning the annuity unit values, the manner in which the variable benefits are calculated, ...
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