In-force Business
Definition of "In-force business"
Aggregate amount of insurance policies that are paid-up (or are being paid) that a life or health insurance company has on its books. The size of a life or health insurance company is often measured by its in-force business. In a life insurance company, the measure is expressed as a face amount of the insurer's portfolio. In a health insurance company, the measure is expressed as premium volume.
Popular Insurance Terms
Present value computation of the accrued or projected benefits of a retirement plan. This computation is known as the actuarial valuation because it is based on probability (retirement ...
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Reinsurance broker for a primary company (the re-insured). This broker is paid commissions by the reinsurance company, just as an agent is paid commissions by an insurance company for ...
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Stipulations of the rights and obligations of an insured and an insurer under a policy. ...
Individual or other entity who owns an insurance policy. Synonymous with policyowner. ...
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Total earned premiums minus total expenses and losses paid of the insurance company. ...
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