Group Certificate
Definition of "Group certificate"
Summary certificate of benefits issued to an employee in lieu of a policy. The master contract remains with the employer. For example, in group life insurance, an employee receives only a summary certificate of benefits, while the master contract remains with the employer.
Popular Insurance Terms
Decision in the absence of a plaintiff or defendant at the specified court time. ...
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Disciplined approach to managing an insurance company's bond portfolio duration. When interest rates rise, the average maturity and duration of the bond portfolio is lengthened, resulting ...
Salaries plus commissions plus overhead expenses plus office rent plus fees charged for memberships in industry associations and bureaus plus guaranty association assessments plus taxes ...
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Type of court bond filed on behalf of the defendant and used to release assets to him or her that have been attached pending a court decision. ...
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