Savings Element, Life Insurance
Buildup of policy cash value, as distinguished from the death benefit. A policyholder has a choice between surrendering the policy for its cash surrender value or keeping it in force for its death benefit. The rates of return on cash value policies, such as whole life insurance, universal life, or variable life, depend on schedules in the insurance contract or, in some types of policies, on prevailing interest rates or the performance of an investment portfolio.
Popular Insurance Terms
Single policy covering all insurable property of specified type s) at all locations of an insured business. The form is appropriate for the business that has several locations. There are ...
Beneficiary's choice, in a life insurance policy or annuity, for receiving income payments for a given period of time. The number of payments are fixed by the payee; the benefit amount is ...
Procedure for examining the total financial position of the insurance company over future time periods under various changing scenarios of uncertainty involving interest rates, mortality ...
Sum of money paid on the principal amount of money invested or loaned. ...
In insurance, legal authority obtained by an insurance company, agent, broker, or consultant that permits them to do business in a particular state. The document issued by the state shows ...
Organization formed to encourage research in insurance and to foster an exchange of ideas and research methodology among the society members. ...
HEALTH MAINTENANCE ORGANIZATION that restricts to a relatively small amount the number of medical providers from which an HMO member may seek services. Usually, HMO members may select the ...
Provision by an employer for the economic and social welfare of employees. Generally include: pension plans for retirement; group life insurance for death; group health insurance for ...
Methodology in which a range of plausible alternatives is suggested concerning future scenarios. The scenarios describe possibilities rather than predictions. ...
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