Servicemen
U.S. government group term life insurance for male and female members of the federal uniformed forces on active duty, underwritten by private insurance companies. Premiums reflect peacetime mortality rates for this group, with any additional costs of military risks (such as wartime exposure) being borne by the federal government. Upon discharge, SGLI policies can be converted either to five-year nonrenewable term veterans group life insurance (VGLI) or to a permanent policy at the veteran's attained age (at higher cost) with one of the commercial insurance companies participating in the serviceman's plan.
Popular Insurance Terms
Clause in a bond that permits a principal who was formerly insured by the bond to report a loss to the surety company that occurred while the bond was in force. The period of time for ...
method of determining the worth of property to be insured, or of property that has been lost or damaged; method of setting insurance company reserves to pay future claims ...
Amount added to the basic premium (expectation of loss) to cover an insurance company's expenses. These expenses include agent commissions, premium taxes, costs of putting a policy on the ...
Refusal by an insurance company to underwrite a risk. ...
Statutory underwriting gain minus (or loss plus) policyholder's dividends. ...
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Evaluation of the demographic characteristics of the entire group (such as age, sex, morbidity, mortality), as opposed to the evaluation of individuals in that group. ...
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