Guarantee Cost Nonparticipating Life Insurance
Policy whose premiums, cash value, and face amount are guaranteed (all values are fixed and do not fluctuate according to the loss experience, expenses, and investment returns of the insurance company). The advantage of this policy to the policy owner is that, when the company experiences adverse conditions, they are not passed on to the policy owner. Likewise, the disadvantage of this policy to the policy owner is that the policy owner does not reap the benefits when the company experiences good conditions.
Popular Insurance Terms
Estate planning device used so that any life insurance policies that are owned by and paid to the trust will avoid estate tax upon the death of the insured, and, upon the death of the ...
Act that prohibits employers from discriminating against employees in employee benefit plans, regarding contributions or benefits based on race or gender. ...
A ceding company's premium to which the reinsurance premium factor is used to produce the reinsurance premium. ...
Feature of property and casualty policy providing coverage without a reduction in the policy's limits after a loss is paid. For example, if the limit of coverage under a property policy is ...
Same as term Debit Insurance: life insurance on which a premium is collected on a weekly, bi-weekly, or monthly basis, usually at the home of a policyholder. The face value of the policy is ...
independent advisor to insurance companies, corporations, federal, state, and local governments, and labor unions on actuarial matters. These include evaluation of the liabilities of ...
Coverage for property loss liability as the result of negligent acts and/or omissions of the insured that allows a spreading fire to damage others' property. Negligent acts and omissions ...
Coverage for sample merchandise while in the custody of a salesperson. ...
Contract between the reinsurer and the ceding company stipulating the manner in which insurance written on various risks is to be shared. ...
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