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
Nonparticipating life insurance under which the first few annual premiums are smaller than would be the case under a traditional nonparticipating policy. While the maximum amount of these ...
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Title of a published set of rules, adhered to by member companies of major property and liability associations, that stipulate how losses should be adjusted when the same loss is covered by ...
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