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
Insurance policy for which the required premium has been paid. ...
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In life insurance, the exchange of a series of installment payments, as the result of an installment settlement, for a lump sum distribution. ...
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States that preclude the placement of surplus lines with particular insurance companies. ...
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