Life Underwriting Training Council (lutc)
Organization that develops and administers educational materials and examinations for life insurance agents. A significant objective of the courses is sales technique.
Popular Insurance Terms
Amount of insurance remaining on a ceding company's books, net of the amount reinsured. ...
Endorsement to the standard fire policy increasing the insurance protection to an all risks basis. ...
Bodily or emotional injury resulting from physical or mental wound or shock. A traumatic injury is caused by something outside the person's body as opposed to a sickness or a disease. An ...
Entitlement of a participant in an employee benefit insurance plan to receive benefits regardless of his or her employment status. ...
Reinsurance marketplace modeled after Lloyd's of London. Like Lloyd's, the New York Insurance Exchange is a market for hard-to-place risks and for the placement of excess or surplus lines. ...
Modest amounts of coverage sold on a debit basis. The face amount is usually less than $1000. ...
Provision in a life insurance policy that death benefits will not be paid in the event an insured dies from war-related causes; or in lieu of a death benefit there is a return of premiums ...
Variation of group life insurance that covers a small group of persons who work for the same employer. With group life insurance, the employer owns the policy; with wholesale insurance, ...
Flat dollar amount that is added to the pure premium for an insured risk that is smaller than that of the lowest experience rating band. This dollar amount serves the purpose of generating ...
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