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
Annuity that provides income payments for a number of years provided the annuitant is alive to receive them. All income payments cease upon the death of the annuitant. ...
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Largest property and casualty insurance company trade association in the world (international membership)whose objectives include the service of its membership through positive legislation ...
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