Impaired Risk Immediate Annuities
Income payments that are calculated based on the annuitant's life expectancy and adjusted to reflect the annuitant's medical circumstance. For example, a person age 63 may have a medical impairment that gives him or her the same life expectancy as that of a person age 73. The income payment can be increased accordingly to reflect the shorter life expectancy.
Popular Insurance Terms
An act or violation that consists of two wrongs: tort negligent act or omission by one or more parties against the person or property or another party or parties, liability insurance is ...
Life is unpredictable so to compensate this, people have invented insurance. Insurance deals with unforeseen events. Sometimes insurance companies cover only a part of your losses and a few ...
Acquisition and employment of assets in order to maximize the return on these assets through: establishment of financial planning objectives; development of financial plans by which these ...
Policy that has an initial premium with flexible premiums thereafter. Within limits, a policy owner can select both the future amount and frequency of premiums, or can stop and start ...
The definition of special acceptance explains how two insurance institutions work together for the benefit of the masses. In order to define what special acceptance means, we must ...
Type of guaranteed insurance contract in which the term is fixed, the rate is fixed, and the contract owner does not participate in the insurance company's earnings. ...
Historical mortality table that replaced the annuity table, 1949, used for the calculation of annuity rates with more-current mortality experience at that time. This table was subsequently ...
Value in life insurance policies that entitle the insured to these choices: to relinquish the policy for its CASH SURRENDER VALUE. (Note that in the beginning years the cash value may be ...
Coverage tailored to the particular requirements of an insured, when a standard policy cannot be used to provide coverage for real or personal property. A manuscript policy is often written ...
Have a question or comment?
We're here to help.