Pooled Income Funds
Separate trust established by a charitable entity whose purpose is to receive contributions from numerous donors. All the donors' contributions are commingled. Each donor can retain a life-income interest in the donation. The donor's income payment is based on the number of units of participation calculated at the time the donation is made and the value of each unit. The value of each unit in turn is determined by the investment performance of the commingled funds.
Popular Insurance Terms
Goals of the financial planning process as follows: Standard of Living Maslow's basic needs satisfied such as food, water, clothing, shelter, and nice-to-have discretionary items, such as ...
Tax, under federal and state laws, on transfer of property made without payment or other value in exchange. ...
One of four types of risks used by the society of actuaries (SA) to determine a life insurance company's overall risk profile when fluctuations in interest rates result in abnormal cash ...
Type of commercial insurance that provides coverage for the business under the following policy forms: Form A employee dishonesty involving money, securities, and other properties and may ...
The definition of short rate cancellation is a penalty method that is applied when an insurance policy is canceled before its expiration date. This penalty method uses a table to determine ...
Attachment of decreasing term life insurance to an ordinary life policy to provide monthly income to a beneficiary if death occurs during a specified period. If the insured dies after the ...
Inquiry conducted by a committee of the legislature of the State of New York in 1905 that looked at abuses of life insurance companies operating in the state. This study led to stricter ...
Amount charged to an insured that reflects expectation of loss for a covered risk; and insurance company expenses and profit. ...
Wording in life insurance policies to determine the order of deaths when the insured and the beneficiary die in the same accident. For example, if the insured is deemed to have died first, ...
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