Naic: Model Bill To Provide For The Regulation Of Credit Life Insurance National Association Of Insurance Commissioners
Definition of "Naic: model bill to provide for the regulation of credit life insurance national association of insurance commissioners"
Model state law of the NAIC that stipulates that the purchaser (debtor) of a credit life insurance (creditor life insurance) policy must be provided a descriptive policy; the policy must terminate if the indebtedness is discharged or if the indebtedness is transferred to another creditor; there must be complete disclosure of the premium charges to the debtor, and any unearned premiums must be refunded to the debtor.
Popular Insurance Terms
Monthly income payment provided by a Disability income insurance policy to the insured wage earner when income has been interrupted or terminated because of illness, sickness, or accident. ...
Termination of coverage in insurance. ...
Increases (decreases) in capital assets (such as stocks and bonds) between the date of purchase and the date of sale. ...
Financial analysis method established by the national association of insurance commissioners (naic) to detect problems of property and casualty insurance companies and life and health ...
Incidents covered under workers compensation benefit. ...
Describing a risk whose probability of loss is less than the norm or the standard expectation of loss for that underwriting classification. ...
Insurance that covers an indirect loss stemming from a direct loss by a covered peril to income-producing property. A building destroyed by fire represents a direct loss. Lost income ...
Life insurance: Bonds most state regulations permit life insurance company investments in debentures, mortgage bonds, and blue chip corporate bonds. Stocks(a) preferred stock investment ...
Coverage under the auspices of a federal or state agency that can be either mandatory or elective. ...
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