Lapse Ratio
Percentage of a life insurance company's policies in force at the beginning of the year that are no longer in force at the end of the year. This ratio is critical because it indicates the rate at which policies are going off the books and the resultant loss of earnings to the company.
Popular Insurance Terms
Entitlement of a pension plan participant (employee) to receive full benefits at normal retirement age, or a reduced benefit upon early retirement, whether or not the participant still ...
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