Life insurance

Life insurance

Industry: Insurance

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Life insurance

activities of daily living

Insurance; Life insurance

Bathing, preparing and eating meals, moving from room to room, getting into and out of beds or chairs, dressing, using a toilet.

Cost of replacing damaged or destroyed property with comparable new property, minus depreciation and obsolescence. For example, a 10-year-old sofa will not be replaced at current full value because ...

actuary

Insurance; Life insurance

A specialist in the mathematics of insurance who calculates rates, reserves, dividends and other statistics. (Americanism: In most other countries the individual is known as "mathematician.")

adjustable rate

Insurance; Life insurance

An interest rate that changes, based on changes in a published market-rate index.

adjuster

Insurance; Life insurance

A representative of the insurer who seeks to determine the extent of the insurer's liability for loss when a claim is submitted.

admitted assets

Insurance; Life insurance

Assets permitted by state law to be included in an insurance company's annual statement. These assets are an important factor when regulators measure insurance company solvency. They include ...

agent

Insurance; Life insurance

individual who sells and services insurance policies in either of two classifications: 1. Independent agent represents at least two insurance companies and (at least in theory) services clients by ...