State Savings Guarantee Corporation
Definition of "State savings guarantee corporation"
State-sponsored insurance fund that was intended to guarantee deposits at state-chartered savings institutions. A handful of these funds existed in the early 1980s, but after a string of savings and loan failures in Maryland and Ohio in 1985, these funds were phased out and the member savings institutions converted to Federal Deposit Insurance.
Popular Insurance Terms
Combination of the federal estate tax and the federal gift tax. ...
Same as term Convention Examination: audit of the convention blank (NAIC Statement Blank) every third year as to all of the financial activities of a company; company claim practices; and ...
Underwriting practice involving regular review of insurance contracts in force with the intent of either canceling a policy or not offering renewal for risks no longer deemed acceptable. ...
Recipient of an indemnity. Indemnitor provider of an indemnity payment. ...
Clause found in an annuity contract that enables the owner of that contract to withdraw his or her money without surrender penalties, if the annual interest rate is lowered below a certain ...
Provision in a marine insurance policy in which agreement has been reached between the insured and the insurance company concerning the worth of the property that is to be covered under the ...
Annuity that continues income payments as long as the annuitant lives, ceasing upon the individual's death. ...
Of four SEC divisions that regulates the securities markets and the participants within these markets. ...
Maximum age of an applicant or insured beyond which an insurance company will not initially underwrite a risk or continue to insure it. For example, under some forms of renewable term life ...
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