Personal Financial Inventory

Coverage in which premiums do not increase or decrease for as long as the policy remains in force. In the early years of a policy, the premiums are greater than is necessary to pay ...

Basis for calculating life insurance premiums and benefits using current interest and mortality rates, rather than historic rates. Current assumptions are critical to interest-sensitive ...

Type of proportional reinsurance under which the ceding company (primary insurer) cedes a portion of the face amount of the life insurance policy it has underwritten to its reinsurer. The ...

Same as term Cargo Insurance: shipper's policies covering one cargo exposure or all cargo exposures by sea on all risks basis. Exclusions include war, nuclear disaster, wear and tear, ...

Picture of future dividends that the insurance company expects to be allocated to a specific block of policies. The accuracy of this picture depends on the actual future mortality, ...

Mathematical combination of one-year term insurance and one-year deferred permanent insurance such that no reserve has to be set up for the first year the policy is in force and allowance ...

Same as term Coinsurance: ...

Separate legal entity formed by one or more physicians and one or more hospitals whose objective it is to negotiate contracts with payer organizations. The PHO provides financial, ...

Death without a will having been drawn. Under this circumstance, the court follows state law in deciding how the estate of the deceased is to be distributed. ...