Sources Of Income
In insurance, company revenues from underwriting and investment. Insurance companies make money first, by underwriting good risks so that their premium dollars cover claims losses and expenses (the money left over being called underwriting income), and second, by investing premium dollars until claims have to be paid (called investment income), sometimes many years later. In the late 1970s, for example, casualty insurers lost money on underwriting but made up for the loss with a gain in investment income.
Popular Insurance Terms
Special property damage coverage purchased by an individual renting an automobile under which the rental company waives any right to recover property damage to the automobile from that ...
Anticipated insurance-related costs, not including claims-related costs. ...
Situation where the United States dollar rises in value in comparison with other foreign currencies resulting in the decrease in the value of the foreign securities. This is due to the fact ...
Plan in which participant (employee) utilizes spending accounts to pay for health care costs not subject to reimbursement from a health insurance policy or health care provider. The ...
Same as term Debit Insurance: life insurance on which a premium is collected on a weekly, bi-weekly, or monthly basis, usually at the home of a policyholder. The face value of the policy is ...
Approved or accepted policy for a particular type of risk. The only type of risk covered by a standard form mandated by law is the fire policy. In 1886, New York adopted a standard fire ...
Insurance established under the federal Railroad Retirement Act for railroad employees, covering death, retirement, disability, and unemployment. Benefits are adjusted for cost of living ...
Retirement income benefit of a survivor (or survivors) of an insured individual, according to a particular formula. For example, if a retired male worker dies, all or a portion of his ...
Health plans established by associations of hospitals and physicians to provide hospital service and care, and medical and surgical care. ...
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