Payment Of Premiums On Bonds
Definition of "Payment of premiums on bonds"
Act that seals a contract and is noncancellable. surety bonds and fidelity bonds resemble insurance contracts in many ways. However, the surety, which is often an insurance company, cannot cancel a bond once the premium has been paid.
Popular Insurance Terms
Policy that pays a specified sum not related in any way to the extent of the loss. The term applies to a life insurance policy rather than to a contract of indemnity because the former does ...
Health maintenance organization that provides medical services to the HMO members through an exclusive contract with specific physicians and hospitals. These selected physicians and ...
In group insurance, adjustment of premiums, because of reduced expenses due to economy of scale. Group Me premiums are subject to negotiation and modification because of administrative ...
Amount of the insurance company's liabilities for claims that have not been settled. If this reserve increases significantly in relation to the company's surplus, the risk is greater for ...
Maximum amount of coverage available under a liability insurance policy. ...
Actuarial method of calculating benefits and their costs for all the employees as a group rather than for each individual employee. The costs of the benefits are measured in the form of a ...
Coverage that provides a death benefit to the owner of a policy in the event of the death of insured livestock. ...
Investments restricted to short-term Treasury bills (T-bills) and repurchase agreements secured by Treasury bills. These T-bills are secured by the full faith and credit of the Unites ...
Bonds issued by the United States Treasury that earn a fixed interest rate plus the rate of inflation. These bonds are sold at face value in denominations of $50 up to $5000 and may earn ...
Have a question or comment?
We're here to help.