Enrolled Actuary
Same as term Actuary: mathematician in the insurance field. Actuaries conduct various statistical studies; construct morbidity and mortality tables; calculate premiums, reserves, and dividends for participating policies; develop products; construct annual reports in compliance with numerous regulatory requirements; and in many companies oversee the general financial function. The successful actuary has a strong general business background as well as mathematical ability. Professional actuarial associations provide actuarial qualification examinations.
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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Means of setting life insurance reserves based on expected mortality rates as reflected in a mortality table. ...
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Specific time at which the insurance policy coverage begins and ends. ...
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Inland marine policy to cover liability for goods that belong to clients while in a mover's possession. ...
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