Variable Life Insurance
Definition of "Variable life insurance"
Investment-oriented whole life insurance policy that provides a return linked to an underlying portfolio of securities. The portfolio typically is a group of mutual funds established by the insurer as a separate account, with the policyholder given some investment discretion in choosing the mix of assets among, say, a common stock fund, a bond fund, and a money market fund. Variable life insurance offers fixed premiums and a minimum death benefit. The better the total return on the investment portfolio, the higher the death benefit or surrender value of the variable life policy.
Popular Insurance Terms
Choice among the following options made by retiree prior to retirement concerning the distribution of benefits: option since all income payments cease upon the death of the retiree. Monthly ...
Action (s) that the insured must take, or continue to take, for the insurance policy to remain in force and the insurance company to process a claim. For example, the insured must pay the ...
Process of the continual reinsurance of a ceding company's portfolio of insurance policies. All premiums that have been ceded become earned premiums. ...
Financial instrument established irrevocably for a minimum of 10 years, after which the principal reverts to the grantor upon termination of the trust. A key feature is that earnings from ...
Policy used to provide the funds for buy and sell agreements under which an income payment or a series of income payments is paid to the buyer of the disabled partner's interest contained ...
Measurement of income received by households from employment, self-employment, or investment and transfer payments, as provided monthly by the United States Department of Commerce. ...
Re-registration of existing shares when there is any change in the name of the owner (s). Such a circumstance may occur when the owner (s) of the shares gives these shares to another ...
Federal agency that regulates commerce across state lines. The ICC does not oversee insurance, which is subject to regulation by the states according to Public Law 15, McCarran-Ferguson ...
Written agreement attached to a policy to add or subtract insurance coverages. Once attached, the endorsement takes precedence over the original provisions of the policy. For example, under ...
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