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
Model state law of the NAIC that stipulates that the contract owner must receive annual reports concerning the annuity unit values, the manner in which the variable benefits are calculated, ...
Payments awarded by a court in a liability suit. Money damages can be broken down into compensatory and punitive. Compensatory damages reimburse a plaintiff for expenses incurred for such ...
Important means of preventing accidents and injuries. Insurers take corporate safety programs into account when rating workers compensation and other business insurance policies. ...
Means of setting life insurance reserves based on expected mortality rates as reflected in a mortality table. ...
coverage issued to a creditor on the life of a debtor so that if the debtor becomes disabled, the insurance policy pays the balance of the debt to the creditor. ...
Loss of income resulting from the damage or destruction of a person's property or a business's property. For example, if a store is damaged by fire and is unable to sell its inventory to ...
Specific time at which the insurance policy coverage begins and ends. ...
Entity that offers a managed care plan for workers compensation benefits that joins a provider network with the following parts: case management personnel, medical bill review personnel, ...
Inland marine policy to cover liability for goods that belong to clients while in a mover's possession. ...
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