Definition of "Offeree"
- in life insurance, receipt by a company of an insurance application accompanied by the first premium.
- in property and casualty insurance, a company's receipt of an application.
Popular Insurance Terms
Legal document that permits the individual to declare his or her desires concerning the use of life-sustaining treatment to be made at the point in time when death is imminent and the ...
Arrangement in which individuals serve as trustees of their own living trust and name another party (successor trustee) to manage the assets if they should become incapacitated. In this ...
Provision used to avoid duplication of coverage in other policies; to eliminate coverage for property under the care, custody, and control of an insured business; as well as to avoid ...
Difference between the yield on earning assets and the cost of interest-bearing liabilities. ...
Insurance against interruption of supply of goods and services. If firm A depends on firm B for its supply of goods and services, an interruption caused by damage or destruction to B can ...
Provision that covers a business to be protected under a reinsurance treaty. The class either can appear at the beginning of the agreement or may be included in the retention and limits ...
Insurance company's growth rate of adjusted surplus divided by its adjusted liabilities. The greater this ratio, the more financially sound the insurance company, as the surplus would be ...
Employee benefit plans under which both the employee and the employer pay part of the premium. Contribution ratios vary. For example, an employer contributes two dollars for every dollar ...
Independent contractor of the insurance company who has the authority to appoint brokers on behalf of the insurance company. This supervisor has the objective and the responsibility to sell ...
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