Life insurance

Life insurance

Industry: Insurance

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Life insurance

Lloyd's

Insurance; Life insurance

Generally refers to Lloyd's of London, England, an institution within which individual underwriters accept or reject the risks offered to them. The Lloyd's Corp. provides the support facility for ...

These organizations are voluntary unincorporated associations of individuals. Each individual assumes a specified portion of the liability under each policy issued. The underwriters operate through a ...

National Association of Insurance Commissioners (NAIC)

Insurance; Life insurance

Association of state insurance commissioners whose purpose is to promote uniformity of insurance regulation, monitor insurance solvency and develop model laws for passage by state legislatures.

dividend

Insurance; Life insurance

The return of part of the policy's premium for a policy issued on a participating basis by either a mutual or stock insurer. A portion of the surplus paid to the stockholders of a corporation.

earned premium

Insurance; Life insurance

The amount of the premium that as been paid for in advance that has been "earned" by virtue of the fact that time has passed without claim. A three-year policy that has been paid in advance and is ...

elimination period

Insurance; Life insurance

The time which must pass after filing a claim before policyholder can collect insurance benefits. Also known as "waiting period."

employers liability insurance

Insurance; Life insurance

Coverage against common law liability of an employer for accidents to employees, as distinguished from liability imposed by a workers' compensation law.