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
Law by which many states attempt to regulate insurers who are unlicensed in those states. With a few notable exceptions, such as re insurers, insurance companies must be licensed in the ...
Person who has the responsibility for examining the risk to determine whether or not to insure it. ...
Clause, generally found in business interruption insurance, that establishes the same indemnification basis as the coinsurance clause. ...
Mortality table that includes data only on people who have recently purchased life insurance. Experience shows that such people have a lower mortality rate in the years immediately ...
Distribution of a deceased beneficiary's share of an estate among that beneficiary's children. Contrast with per capita. ...
Coverage that is purchased to provide protection for a loss that has already occurred. The severity of the loss, however, is uncertain. ...
Funds receivable or payable that have not been paid in a timely manner, commercial credit insurance protects an insured against declines in the value of receivables due to insolvency of a ...
Excess funds above the amount required to establish legal reserves for the policies in force. These excess funds are generated as the result of mortality savings, excess interest earned on ...
Act of practicing law or providing legal advice without a license. ...
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