Guertin Laws
Standard State Valuation and Non forfeiture Law approved by the national association of insurance commissioners (naic) in 1942. This law is named for Alfred N. Guertin, the actuary who headed the NAIC committee that studied the need for a new mortality table to be used in calculating life insurance non forfeiture values. In essence, application of this law guarantees that an insured is entitled to all benefits for which the life insurance company has received premiums. The insured cannot be made to forfeit the equity that has built up in a life insurance product.
Popular Insurance Terms
Monthly income payment provided by a Disability income insurance policy to the insured wage earner when income has been interrupted or terminated because of illness, sickness, or accident. ...
Termination of coverage in insurance. ...
Increases (decreases) in capital assets (such as stocks and bonds) between the date of purchase and the date of sale. ...
Financial analysis method established by the national association of insurance commissioners (naic) to detect problems of property and casualty insurance companies and life and health ...
Incidents covered under workers compensation benefit. ...
Describing a risk whose probability of loss is less than the norm or the standard expectation of loss for that underwriting classification. ...
Insurance that covers an indirect loss stemming from a direct loss by a covered peril to income-producing property. A building destroyed by fire represents a direct loss. Lost income ...
Life insurance: Bonds most state regulations permit life insurance company investments in debentures, mortgage bonds, and blue chip corporate bonds. Stocks(a) preferred stock investment ...
Coverage under the auspices of a federal or state agency that can be either mandatory or elective. ...
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