Zone System

Means of projecting the costs of pension plans on a level basis over a specified future period of time. The actuarial value of each employee's future benefits to be paid at retirement is ...

Coverage for personal effects of a tourist, including apparel, books, toilet articles, watches, jewelry, luggage, portable typewriters, photographs and photography equipment and supplies. ...

Term for statutory reserves for annuities that can be calculated using various methods but at the minimum, the reserve must be at least equal to the CARVM. The CARVM equals the greatest ...

Earned premium minus incurred losses plus loss adjustment expense plus other incurred underwriting expenses plus policy owner dividends. This income is generated from the insurance business ...

Grouping of applicants for life insurance according to expected mortality, so as to produce an underwriting classification in which the spread between health of the worst and best applicant ...

Claim, such as a worker's lien, to property under the care, custody, and control of another. This situation occurs when a worker is not paid for labor provided. For example, a carpenter ...

Plan that provides a legal resident of the state of Oregon access to basic health care through three major components: Medicaid Reform (rationing) extends Medicaid eligibility to those ...

Section of ocean marine policy making it an obligation of the insured to take specific measures to limit losses to ship or cargo when a mishap occurs. Expenses incurred to limit physical ...

Amount payable, as stated in a life insurance policy, upon the death of the insured. This is the face value of the policy plus any riders, less any outstanding loans and the interest ...