Static Table
Mortality table, morbidity table that does not include current statistical experience.
Popular Insurance Terms
Central computerized facility that keeps on file the health history of the applicants for life and health insurance with member MIB companies. For example, the health record of an applicant ...
Bond guaranteeing that a contractor will pay fees owed for labor and materials necessary for construction of a project. If these fees are not paid, an owner who has paid the contractor ...
Provision that the equity of an insured in a life insurance policy cannot be forfeited. There are four benefits a policyholder can select under the option: cash surrender value, extended ...
Early type of no-fault automobile insurance developed by two law professors, Robert Keeton and Jeffrey O'Connell. Its basic premise is that for many accidents it is impossible to place the ...
U.S. government agency (formerly the Atomic Energy Commission) responsible for regulating the nuclear energy industry. The commission also provides supplemental insurance for nuclear ...
Accrual or addition to life insurance benefits. ...
Fronted program by the insured acquires a licensed insurance company to issue insurance policies. ...
Irrevocable trust into which the grantor places assets and retains the income from or the use of these assets for a stipulated period of time. At the termination of this time period, the ...
Provision in business interruption insurance that excludes coverage for continuing the wages of rank and file employees. Business interruption insurance covers an employer for loss of ...
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