Minimum Deposit Rescue
Technique designed to permit the exchange of a life insurance policy that has an outstanding loan charged against it for another life insurance policy on a tax-free basis. The procedure is for the insurer to issue a new policy subject to a loan in the amount equal to the outstanding loan on the old policy. If the new policy so issued is of the form of a flexible premium policy such as universal life, the loan from the old policy can be replaced by the new policy assuming the loan.
Popular Insurance Terms
Provision in an insurance policy that permits an insured to cancel the policy and recoup the excess of the paid premiums above the customary short rate for the expired time. The clause also ...
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independent advisor to insurance companies, corporations, federal, state, and local governments, and labor unions on actuarial matters. These include evaluation of the liabilities of ...
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Act that prohibits insurance companies, group health plans, and health maintenance organizations from establishing lifetime limits or annual limits on mental health coverage that are lower ...
One of four SEC divisions that administers the procedure through which public companies must disclose all relevant material in order that a potential investor might make an informed ...
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