Substandard Health Insurance (Qualified Impairment Insurance)
Coverage for persons whose medical history includes serious illness such as heart disease or whose physical condition is such that they are rated below standard. A policy may specifically deny coverage for recurrence of a particular illness or medical condition through an impairment exemption rider, or may provide only partial benefits.
Popular Insurance Terms
Process in life insurance by which an applicant who is uninsurable, or is a greater than average risk, seeks to obtain a policy from a company at a standard premium rate. Life insurance ...
Program designed as protection for political risk (action taken by a foreign government resulting in financial loss to companies trading or investing overseas). Coverage is provided for ...
Goals of the financial planning process as follows: Standard of Living Maslow's basic needs satisfied such as food, water, clothing, shelter, and nice-to-have discretionary items, such as ...
Automatically extended reporting period of 60 days, during which claims may be made after a claims made basis liability coverage policy has expired. ...
Basis for calculating life insurance premiums and benefits using current interest and mortality rates, rather than historic rates. Current assumptions are critical to interest-sensitive ...
Recording and presentation of financial statements, such as the annual statement, by the insurance company. Financial reporting statements are used by the State Insurance Commissioner in ...
Organization following the format of Lloyd's of London. ...
Refers to the insured or reinsured paying premiums into an account at a commercial bank that will be used to pay for future or past losses. Portions of the premiums not required to pay for ...
Major credit insurer of the early 20th century that merged into the London Guarantee and Accident Co. in 1931. ...
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