Naic Model Act For Life And Health Insurance Policy Language Simplification National Association Of Insurance Commissioners


Definition of "Naic: model act for life and health insurance policy language simplification national association of insurance commissioners"

Model state law of the NAIC that requires that the insurance policy contain language that meets a readability test (usually, the Flesch readability test that uses a formula approach to measure ease of reading), print used is subject to a minimum size, and a table of contents or index is to be included.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

 

Popular Real Estate Terms

Validation Period

Length of time required to amortize the excess expenses of acquiring a given group of life insurance policies. In acquiring a policy, a life insurance ...

Cat Spread

Type of derivative traded on the Chicago Board of Trade that takes the form of an option on a catastrophe futures contract using a call-option spread ...

Reinsurance

Form of insurance that insurance companies buy for their own protection, "a sharing of insurance." An insurer (the reinsured) reduces its possible max ...

Actuarial Equivalent

Mathematical determination based on the expectation of loss and the benefits to be paid in such an eventuality. The premium charged will vary directly ...

Loss And Loss Adjustment Expense Reserves

Amount of the insurance company's liabilities for claims that have not been settled. If this reserve increases significantly in relation to the compan ...

Replacement, Life Insurance

Exchange of a new policy for one already in force. ...

Popular Real Estate FAQ

What Do I Need To Know About Auto Insurance?

Choosing the auto insurance requires consideration of manyfactors- Take into account everything you own and the reasons to protect them. The year of ...

What Do I Need To Know About RV Insurance?

Your motor home can be both your transportation and your home away from home. So like your auto and your home, you need to safeguard it with the prope ...

What Do I Need To Know About Watercraft Insurance?

You need separate coverage for the variety of risks you face when storing, launching, hauling or running your seaworthy vessel. Boats, and other water ...

What Should I Do If I'm In An Accident?

1.- Stay Calm. Determine the injuries and or damage. 2.- Call the police. File an accident report and obtain medical assistance if needed. 3.- L ...

How Do I File An Insurance Claim?

Call your Insurance agent or Insurance Company \"Claims Hotline\" as soon as possible. Getting your agent\'s help, may speed things along. ...

What Do I Need To Know About Motorcycle Insurance?

You need an insurance policy that is tailored in your needs in mind. Take liability for example. Guest passenger liability helps protect you bodily in ...

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

How To Choose A Realtor® Should you Buy a Home with Cash? 7 Things to Consider Before Moving to a New City Why Use a Real Estate Agent? How is Square Footage Determined?

FAQ

I need Hospital Insurance in addition to my current health insurance policy? What is a Buildable acre? Besides making my monthly mortgage payment, how can I build equity into my house? What is a loan-to-value (LTD) ratio? What is a survey?