Full Valuation Reserve
Method of valuing a reserve under which no reserve is established for a life insurance policy at the end of the first policy year, but reserves are established at the end of the second policy year. This approach enables the company to have more funds available during the first policy year to pay the expenses associated with selling the policy.
Popular Insurance Terms
Property and/or liability coverage for a municipality. Municipalities are responsible for maintenance of through ways as well as a myriad of public services. Liability insurance for ...
Method of rating that compares property to be insured to a standard and adjusts the rate for deviations from the standard. A standard building is situated in a standard city of specific ...
Historical record of dividends paid. ...
One of four SEC divisions that administers the procedure through which public companies must disclose all relevant material in order that a potential investor might make an informed ...
Written contract between an insured and an insurance company stating the obligations and responsibilities of each party. ...
Circumstance that increases the probability of loss because of the insured's indifferent attitude. For example, if an insured leaves the doors unlocked and the windows open when leaving ...
Provision under the Internal Revenue Code, Chapter 13, that specifies a transfer tax of 55% of the gift to a person at least two generations younger than the transferor (person who gives ...
Right that has a limited time in duration for an individual to receive the income generated by assets owned by another individual. ...
Measurement of the response of the cash flow of an insurance company to various interest rate scenarios; for example, how rising interest rates will affect the number of life insurance ...
Have a question or comment?
We're here to help.