Liabilities: Life Insurance Companies
Future benefits to be paid to the policyholders and beneficiaries, assigned surpluses, and miscellaneous debts. These primary liabilities take the form of reserves, which must be listed on the company's balance sheet as part of the liabilities section. The valuation of a company's reserves, which guarantee that funds will be available to meet its liabilities, is strictly regulated by the state insurance departments. Life insurance company liabilities also include cash surrender values of its policies and annuities.
Popular Insurance Terms
Property coverage for a builder of ships until possession passes to the owners. Protects against pre-launch and post-launch perils. Coverage can be purchased on an all risks basis subject ...
Most generally, twisting in insurance is regarded as an unfair trade policy or practice. Twisting means a life insurance policy holder’s misrepresentation on behalf of an insurance ...
tort against another person's property, designed to detain or dispose of it in a wrongful manner. For example, wrongful selling of another person's automobile without permission would ...
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