Nonassessable Mutual
Definition of "Nonassessable mutual"
Insurance company whose corporate charter and bylaws prevent assessment of its policyowners, regardless of how adverse its loss and expense experience may become.
Popular Insurance Terms
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Termination date of coverage as indicated on the insurance policy. ...
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Tax charged to finance the old age, survivors, disability, and health insurance (OASDHI) plan. Both employer and employee share in the cost, making contributions on an equal basis. The ...
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