Open Debit

State legislation that allows insurers to offer both property and casualty insurance. At one time, U.S. insurers sold only one type of insurance, a practice that gradually became written ...

Employee benefit plan that includes benefits to be received from Social Security when determining the allowable benefit amount to be received by that employee or beneficiary. ...

Account in which a predetermined interest rate is paid for a predetermined period of time. For each contribution that is paid into the fixed account, a new guarantee period begins for that ...

Fairness (as an objective of insurance pricing). Premium rates are set according to expectation of loss among a classification of policy owners. The premise is that all insureds with the ...

Coverage made available to residents of a community on a subsidized and nonsubsidized premium rate basis once the governing body of the community qualifies that community for coverage under ...

Day on which the New York Stock Exchange is open for transactions; used in calculating accumulation unit values for variable dollar insurance products. ...

Same as term Participating Policy Dividend: life insurance contract that pays its owner dividends, which can be: taken as cash; applied to reduce a premium; applied to purchase an ...

Coverage usually provided for large businesses in four areas: Section I (Property) The building (s) and contents are covered against either any peril (ALL RISKS basis) or only perils listed ...

Search, attraction, interview, and employment of insurance agents. This is a primary function of the general agent (GA) or agency manager. ...