Financial Structure
Definition of "Financial structure"
Same as term Annual Statement: report that an insurance company must file annually with the State Insurance Commissioner in each state in which it does business. The statement shows the current status of reserves, expenses, assets, total liabilities, investment portfolio, and employees earning over $40,000 per year. It provides information needed to assure that an insurance company has adequate reserves, and that assets are available to meet all benefit payments for which the company has received premiums. The form used is agreed upon by the National Association of Insurance Commissioners (NAIC). This form is also known as Annual Convention Blank.
Popular Insurance Terms
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Legislation that provided temporary rules for implementing the employee retirement income security act of 1974 (erisa). ...
A newer generation of life insurance policies that are credited with interest currently being earned by insurance companies on these policies. ...
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Time interval during which policy is in force. ...
Option clause in a disability income policy that the insured can exercise that would permit the insured the right to purchase additional limits of coverage regardless of the insured's ...
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