Expense Reserve

Legislation that provides for the inclusion in the estate of the decedent of lifetime transfers that involve a retained life interest in the following manner: decedent sells or gives to ...

Life insurance policy under which its face value is payable only if the insured survives to the end of the stated endowment period; no benefit is paid if the insured dies during the ...

Coverage through an endorsement to the glass insurance policy on an all risks basis, subject to the exclusions of wear and tear, and damage caused by nuclear hazard, war, and electricity. ...

Amount borrowed against the cash value of a life insurance policy to pay the premium due. ...

One of two basic types of funding instruments for pensions or employee benefits, in which responsibility for plan assets is vested in a trustee. The other type is known as an insured plan, ...

Section of some inland marine insurance {transportation insurance) and many other property insurance policies excluding coverage for damage to shipped goods by vermin such as rats. ...

Amount payable, as stated in a life insurance policy, upon the death of the insured. This is the face value of the policy plus any riders, less any outstanding loans and the interest ...

pool that contains various reinsurance companies with each sharing reinsurance contracts on a pro rata basis as they are submitted to the pool. market that operates much like the New York ...

Loss that is not a direct result of a peril. For example, damage to property of a business firm would be a direct loss, but the loss of business earnings because of a fire on its premises ...