Lockin Principle


Definition of "Lock-in principle"

Accounting rule found under the Generally Accepted Accounting Principles (GAAP) that prohibits the insurance company from restating assumptions that it made for interest earned, expenses paid, and mortality charges for policies in force.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Land-to-building Ratio

Total building area as percentage of total land area. ...

Rating

A valuation of risk of an individual or organization. ...

Section 1034

Provision in the Internal Revenue Code applicable to the sale of an individual's house. The gain or ...

Administratrix

Court-appointed female administrator of an intestates property. ...

Incompetent

Incapable of performing duties because of a lack of knowledge and training. The individual may not p ...

Brokerage Supervisor

Employee of the insurance company who has the authority to appoint brokers on behalf of the insuranc ...

Related Real Estate FAQ

What Are Jumbo Mortgages?

Jumbo mortgages are mortgages larger than the limits set by Fannie Mae and Freddie Mac. A jumbo mort ...

What Are Prepayment Penalties?

A penalty fee charged for paying off a mortgage early, thus allowing banks to still make money off o ...

What Is A Spec House?

The textbook definition of a spec house is \"one built on a speculative basis, without an order on t ...

What Is An APR And What Does It Include?

An APR stands for an ANNUAL PERCENTAGE RATE. This rate includes the costs of any points paid, mortga ...

How Big Is An Acre?

An acre is an area of land equal to 43,560 square feet. For visuality purposes, an acre is most oft ...

What Is A Multiple Listing Service (MLS)?

A multiple listing service is a computerized listing of the homes for sale in an area listed with a ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Is it better to buy or sell a home first 5 U.S. Cities with the Best Public Transportation What is Hazard Insurance? Mortgage Loan Types Getting Ready to Sell? Don't make these DIY Mistakes!

FAQ

What do I need to know about Whole Life Insurance? What do I need to know about Term Life Insurance? What is a default? What is the difference between being prequalified and preapproved for a loan? What are closing costs?