Indexed Life Insurance
Policy with a face value that varies according to a prescribed index of prices; otherwise benefits provided are similar to ordinary whole life. The death benefit is based on the particular index used, such as the Consumer Price Index (CPI). The policy owner has the choice of having the index applied either automatically or on an elective basis. With an automatic index increase, the premium remains level since it has already been loaded to reflect the automatic increase. If the policy allows for an optional index increase, an extra premium is charged when this option is exercised by the policy owner. Regardless of which index is selected automatic or optional the increased death benefit does not require another physical examination or other evidence of insurability.
Popular Insurance Terms
Decision in the absence of a plaintiff or defendant at the specified court time. ...
Sum received by an insurance company at the sale of its stock. This capital represents the interest of the stockholders in the company. ...
What is SSDI? It is a form of financial aid for people living with a disability that impacts their quality of life. As one of the largest Federal programs designed to provide assistance to ...
Disciplined approach to managing an insurance company's bond portfolio duration. When interest rates rise, the average maturity and duration of the bond portfolio is lengthened, resulting ...
Salaries plus commissions plus overhead expenses plus office rent plus fees charged for memberships in industry associations and bureaus plus guaranty association assessments plus taxes ...
Coverage to protect employers from losses due to labor disruptions. The ocean marine policy exempts losses caused by strikes, riots, and civil commotion. Special coverage is necessary. ...
Authorization to borrow from the U.S. Treasury by the issuance of notes to the Treasury. The Secretary of the Treasury must approve the notes and their interest rates. The PBGC must be self ...
Modifications of the single premium deffered annuity, which usually guarantees at a minimum a return of a stipulated amount (usually at least 90% of the single premium accumulated at the ...
Type of court bond filed on behalf of the defendant and used to release assets to him or her that have been attached pending a court decision. ...
Have a question or comment?
We're here to help.