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
Financial instruments whose principal and income are established in advance according to contractual terms set forth in the financial instrument's document. Examples of such investments ...
Care in a sanitarium, nursing home, or other facility designed to provide custodial care on behalf of the mental and physical well-being of the patient. The cost may or may not be provided ...
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1% of the loan amount paid to the lender for making a loan. ...
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Chart showing for a group of people: the number living at the beginning of a designated year; the number dying during that year. Yearly probabilities are used in calculating premium ...
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In property insurance policy, clause that stipulates that if legislative acts or acts of the insurance commissioner's office expand the coverage of an insurance policy or endorsement forms ...
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