Deferred Annuity
Annuity that can be paid either with a single premium or a series of installments. For example, an annuitant pays a single premium of $100,000 on June 1 of the current year and is scheduled to receive a monthly income of $1300 at a specified later date. Or, the annuitant pays $50 a month to the insurance company, starting June 1,1968, and ending June 1,1987, and begins receiving a monthly income of $1300, beginning July 1,1987.
Popular Insurance Terms
Life or health insurance policy written on an applicant who has passed a medical examination and signed the application but has not paid the premium due. ...
Coverage that goes into effect when an individual's claim reaches a specific threshold selected by the employer who has self-insurance. After this threshold is reached, the policy pays ...
Right to insurable interest in property such as the right of a secured creditor in the property pledged as security. ...
Model state law of the NAIC that requires that two interest adjusted cost indices must be illustrated within each life insurance policy issued: NET PAYMENTS INDEX; and SURRENDER COST INDEX. ...
Form whose purpose it is to help the agent and the prospective policyowner judge the validity of the insurance company's policy illustrations. This questionnaire's focus is on the ...
Money the policyowner is entitled to receive from the insurance company upon surrendering a life insurance policy with cash value. The sum is the cash value stated in the money the ...
Arrangement in health insurance to discourage multiple payment for the same claim under two or more policies. When two or more group health insurance plans cover the insured and dependents, ...
Coverage on data processing equipment, data processing media (such as magnetic tapes, disks), and extra expense involved in returning to usual business conditions. The data processing ...
Year in which an annually renewable insurance policy was first issued. ...
Have a question or comment?
We're here to help.