Securities And Exchange Commission (sec)
Federal agency that regulates the securities markets. The independent, five-member commission was created under the Securities Exchange Act of 1934 to enforce the securities act of 1933. Members are appointed by the president and serve five-year terms. The SEC has responsibility to regulate securities exchanges and markets, to set disclosure and accounting rules for most issuers of corporate securities, and to oversee securities firms, investment companies, and investment advisers.
Popular Insurance Terms
Benefit in disability income insurance whereby an injured or ill wage earner receives a monthly income payment to replace a percentage of his or her lost earnings. ...
Amount paid to an insurer. Determination of the actual cost (not the price paid) of a life insurance policy has been widely discussed for many years in life insurance and consumer circles. ...
1970 federal law that requires shipowners to clean up or pay for the cleanup of waters polluted by discharges from their ships. Shipowners may be refused navigation privileges if they ...
Facilities for senior adults who pay an entrance fee to move into the facility as well as a monthly fee. The adults receive, in return, a place to live and long-term care usually for the ...
Correction of a contract containing a mistake in order to prevent a party to that contract from gaining from that mistake. For example, if $1,000,000, instead of the correct amount of ...
Highly visible form of marketing communication with the public with these objectives: (1) encourage agents and brokers to sell insurance company products, (2) predispose customers to be ...
Life insurance policy clause. If at the end of the grace period the premium due has not been paid, a policy loan will automatically be made from the policy's cash value to pay the premium. ...
Unit of the life office management association (LOMA), which prepares and administers educational materials for the Fellow Life Management Institute (FLMI) Program. Upon successful ...
Type of endowment insurance that matures at a stipulated retirement age and whose purpose is to provide retirement income to the insured. ...
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