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
Insurance policy that is commercial lines in orientation and is composed of two or more of the following coverages: commercial property, business crime, business automobile, boiler and ...
Prospective insured who completes and signs a written form containing personal statements about himself/herself. ...
Entitlement of a participant in an employee benefit insurance plan to receive benefits regardless of his or her employment status. ...
Salesperson who markets and services insurance policies in the state in which he or she is domiciled. ...
One of two bureaus that writes forms and files standard rates for inland marine insurance. The other is the inland marine insurance bureau. ...
Of four SEC divisions that regulates the securities markets and the participants within these markets. ...
Partnership between an agency of the U.S. government and the Foreign Credit Insurance Association (50 commercial insurance companies, both stock and mutual). Insures that businesses are ...
Mortality table that is a picture of the actual living and/or dying of the population (the universe) upon which the mortality table is based. No additions or subtractions are made to these ...
Type of mortality table that is based on combined statistics from both the ultimate mortality table and the aggregate mortality table. It shows total statistics for the probability of ...
Have a question or comment?
We're here to help.