Full-paid Additions
Same as term Dividend Addition: option in a participating policy under which dividends are used to purchase fully paid-up units of whole life insurance. This option deserves careful consideration by young families since it allows the purchase of extra life insurance without having to take a physical examination. Paid-up additions generate dividends and cash values that in turn will generate additional dividends and cash values.
Popular Insurance Terms
Maximum amount that an insurance company will pay under a liability insurance policy for bodily injury incurred by any single person as a result of any one accident. ...
Model state law of the NAIC that stipulates that the purchaser (debtor) of a credit life insurance (creditor life insurance) policy must be provided a descriptive policy; the policy must ...
Document setting out the responsibilities of a borrower, such as a corporation issuing bonds, and the powers of a trustee who will be looking after the interests of the bondholders. ...
Percentage of life insurance or other insurance policies remaining in force; percentage of policies that have not lapsed. The higher the percentage, the greater the persistency. Since it is ...
Major credit insurer of the early 20th century that merged into the London Guarantee and Accident Co. in 1931. ...
Method of determining reimbursement from medical insurance according to diagnosis on a prospective basis. It originated with the medicare program. ...
Same as term cash surrender value: 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 ...
Federal agency that researches injury and illness arising from workplace hazards and recommends standards for maximum exposures to hazardous substances. ...
Forgery insurance covering securities issues such as stocks and bonds. They protect the issuer of securities against forgery of the securities. ...
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