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
Case where an insurance company is placed by the state court under the control of the state insurance department. Claims are paid in the order filed until the insurance company's ability to ...
Program of health care designed for the prevention and/or reduction of illnesses by providing such services as regular physical examinations. This care is in opposition to curative care, ...
Same as term Bankers Blanket Bond: coverage for a bank in the event of loss due to dishonest acts of its employees or individuals external to the bank. For example, if a teller goes to ...
Time at which life insurance death proceeds or endowments are paid, either at the death of an insured or at the end of the endowment period. ...
Frequency of illness, sickness, and diseases contracted. ...
Early payout of anticipated death benefits from a rider attached to an existing policy or from a separate policy. The purpose is to allow the terminally ill insured an additional source of ...
Life insurance policy clause. If at the end of the grace period the premium due has not been paid, a policy loan will automatically be made from the policy's cash value to pay the premium. ...
Percentage of income required by a retiree to maintain a desired standard of living during the retirement years. ...
Maximum amount that an insurance company will pay under a liability insurance policy for claims resulting from a particular accident. This maximum amount applies regardless of the amount of ...
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