Structured Settlement Annuity
Single premium immediate annuity purchased to fund a structured settlement. This product is purchased when the injured party (the plaintiff) wishes to have a monthly income payment for life and the insurance company (the liability insurance company providing coverage for the defendant) wishes to minimize the sum required to be paid to the plaintiff.
Popular Insurance Terms
Amount of insurance coverage that an insurance company is willing to write on a given category of business. ...
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Extent of the loss caused by accidents. Used in predicting the dollar amount of losses upon which the premiums are based. ...
Present value of a future sum of money to be paid at a stipulated future date. ...
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Membership organization of state insurance commissioners. One of its goals is to promote uniformity of state regulation and legislation as it concerns the insurance industry. The NAIC ...
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Failure to act with the legally required degree of care for others, resulting in harm to them. ...
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