Guaranteed Insurability
Right of an insured to make additional purchases of life insurance without having to take a physical examination or show other evidence of insurability. Additions can be bought at stated times; upon specified policy anniversaries such as every fifth year of a policy up to a maximum age (usually 40 or 45); or upon the birth of a child. Many young families should consider adding this option, since a likely time to add to a life insurance portfolio is when family obligations increase.
Popular Insurance Terms
interconnection of computers that contain pages classified into groups called web sites that can be accessed over the internet. The only requirement for visiting a web site is to have ...
Ratio of excess losses to premium income. Excess losses are those that a reinsurer is responsible for if its coverage is in effect during the period under consideration. The premium income ...
Health insurance contract sold to an individual to provide coverage for medical expenses. Contrast with group health insurance. ...
Payment of an employee's employee benefit insurance plan benefits to the employee's individual retirement account ( IRA) or to another plan maintained by the employer. ...
Decrease in value of property as the result of technological advancement and/or changing social mores. This factor is used to measure the amount of depreciation in determining the actual ...
Independent federal government organization authorized by the employee retirement income security act of 1974 (erisa) to administer the pension plan termination insurance program. Its ...
One of four SEC divisions that administers the procedure through which public companies must disclose all relevant material in order that a potential investor might make an informed ...
Ordinary life insurance that generates a first year cash value from the payment of the first year premium. Using this cash value, loans could be made to finance premiums due in the future, ...
Minimum rate of return, in life insurance, guaranteed to a policyowner in calculating benefits for a life insurance policy. It is also used by an insurance company as the minimum rate of ...
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