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Percentage of a life insurance company's policies in force at the beginning of the year that are no longer in force at the end of the year.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
Price an investor is willing to pay for a financial asset. ...
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Exposures usually excluded from life and health insurance, or subject to a maximum limit if covered. ...
Coverage on an all risks basis for goods in transit, bailment, and while on the premises of others. ...
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Costs incurred by an insurance company other than agent commissions and taxes; that is, mainly the administrative expense of running a company. ...
Agents' records showing when clients' policies expire. ...
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