What Is The Definition Of Life Insurance Reserves?
Question by mikey | Posted in Insurance
need to know for my eco class. it is an assignment i must to my friday
Answer: The amount of money that the insurance company is required to set aside solely for the purposes of paying the claim in the future. There are restrictions on how the company can invest this money because of its purpose. The NAIC sets most of the reserve requirements and companies who are NAIC members comply. "AG38" or "article 38" was one of the most significant changes in reserve requirements in years if you want to google it.
Where Can I Find A List Of Insurance Terminology And Definitions?
Question by blueflower | Posted in Insurance
i teach business english, i have a student who needs to produce insurance policies for his goods. i want to stay clear of health and life insurance. thanks
What Are "actuals" In Reference To Life Insurance?
Question by k57chat | Posted in Insurance
I'm writing a description of a feature in a software program.. and it refers to actuals. This software is life insurance related. I cannot find a definition of "actuals" other than for finance or stocks.. and that isn't really relevent to the context I'm writing about. Anyone have any ideas?
Answer: I believe its a term that is derived from Actuary (A person that calculates risk for insurance companies). So, an actual would be the risk assessments produced by an actuary.
What Is The Easiest Definition Of A Life Income Option?
Question by papa_de_q | Posted in Insurance
How can one still be alive and recieve income from a life insurance company without being disabled?
What is a easy way to understand this? The book says there are no beneficiaries.
I never had this problem. I don't which one of you is right - so how do I choose a best answer?
I guess I'll go with the best answer y'all choose.
Answer: I'm not a life insurance guru, but, here's my understanding of the situation.
When you first take out a whole life insurance policy, you can set a "maturity" date. At that maturity date, if you haven't died yet, you can have it (the cash value) automatically rolled over to a pre-agreed upon annuity, to start paying monthly payments to you for the rest of your life, instead of paying a cash sum to your beneficiary.
You can also set up a whole life policy, to pay you a guaranteed income based on the earnings of the cash value. You would do this, by calculating when the cash value is enough, that the desired 'withdrawals' will still leave enough residual
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The Four Chief Kinds Of Life Assurance | car-loan-calculator.us
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