Learn about the concept of Present Value in insurance, which refers to the current value of an amount due in the future. Essential for understanding financial decisions and policy valuations.
Discover the fundamentals of Automatic Proportional Reinsurance, where insurers automatically share risks, premiums, and losses with reinsurers, and the dynamics of transfer commissions.
Understand the term 'Book of Business' in general insurance, which refers to the cumulative total of all insurance policies written by a company or agent.
Learn about Separate Accounts in the context of Pensions, Annuity, and Life Insurance. Understand how companies hold assets for participants in a variable contract, typically through a unit investment trust registered with the SEC.
Explore the concept of liquidity in general insurance terms, focusing on how insurers convert non-monetary assets into cash to pay claims efficiently.
Explore the various settlement options available in life insurance policies beyond the traditional lump sum payment. Learn about choosing the right payout alternative for your needs.
Learn about the contingency reserve in general insurance—an essential reserve set aside for unforeseen events or damages, typically found in an insurance company's annual statement.
Learn about Net Interest Earned in the context of general insurance. Understand how insurers calculate the average interest earned on investments after expense but before income taxes.
A comprehensive guide on mutual funds within the insurance sector. Learn how insurance companies raise funds, types of mutual funds, and their impact on your investments.
Learn about Self Insured Retention (SIR), its implications, and how it affects the insured in assuming a fraction of a risk. Dive into the key aspects of deductibles and uninsured portions.
Explore the concept of Retirement Annuity in life insurance, a deferred annuity wherein the consideration is paid in installments until reaching a pre-selected retirement age.
Explore the concept of investment income in general insurance, including interest payments, stock dividends, and realized capital gains. Learn how insurers earn from their investments.
Discover the intricacies of the compensating balances plan. Learn how businesses pay premiums, and how the insurance company manages these funds for withdrawals.
Understand the details of an Individual Retirement Account (IRA). Learn about eligibility, contribution limits, and the benefits of saving for retirement with an IRA.
Discover the essentials of Industrial Life Insurance, including its unique coverage amounts of less than $1,000 and the regular premium collection schedules.
Discover the role of open-end investment companies in pensions. Learn how mutual funds are managed by investment advisers to benefit shareholders.
Learn about outstanding premiums in general insurance, referring to premiums that are currently due but have not yet been paid. Understand the importance and implications of outstanding premiums in policy management.
Learn about Modified Adjusted Gross Income (Pensions) which combines an employee's adjusted gross income with tax-exempt interest for a tax year, playing a crucial role in pension planning.
Discover the concept of Natural Premium in life insurance, which represents the mortality cost for one year. Learn how it impacts your insurance policy.
Explore the Benefit Allocation Method in pension funding, a technique where a single premium payment annually secures individual benefits for each year of service, commonly through annuities.
Explore the concept of unfunded plans in pensions, which utilize a pay-as-you-go funding method, and understand their implications.
Understand the concept of underwriting profit or loss in general insurance. Learn how insurers calculate the profit gained or loss experienced from policies and premiums that exceed losses and costs.
Learn about asset valuation in the context of general insurance, focusing on how net profit or loss is calculated after deducting insurance and expenses.
Explore the key aspects of a Defined Benefit Pension Plan, where employers contribute towards a specified retirement benefit for employees. Learn how these plans ensure financial security post-retirement.
Explore the definition of earned income in general insurance terms. Learn how the money a person earns from working at a job influences insurance policies and premiums.
Learn about Net Quick Assets, often referred to as working capital, and understand their importance in the surety bonding process for contractors. Discover how the calculation is made and why it's crucial for bond approval.
Learn what a Regular Stock Option Plan entails, its benefits for company executives, and the tax implications when stock is purchased.
Learn what a mortgage entails in legal terms. An in-depth look at the interest in a property given by the mortgagor (property owner) to the mortgagee (lender) for securing a loan.
Comprehensive definition of 'Surplus' in the context of general insurance, referring to the assets of an insurer after deducting liabilities.
Learn about the responsibilities and functions of an Intermediary (Reinsurance), a specialized broker who negotiates reinsurance contracts on behalf of the insured.
Learn about the Securities Act of 1933, a fundamental law in the financial sector requiring a detailed prospectus and full disclosure to regulate the sale of securities.
Learn about the Unfunded Supplemental Actuarial Value in pensions, which represents the difference between Supplemental Actuarial Value and Actuarial Asset Value.
Learn about catastrophe futures, a financial instrument that insurance companies use to safeguard against large-scale future losses. Discover how this tool helps in risk management.
Learn about the role and essential responsibilities of a registered representative in the securities industry, along with the legal requirements to become one.
In health insurance, the term 'revenue' is often used interchangeably with 'premium.' Learn about the importance of premiums and how they impact your health coverage.
Learn about securities in general insurance terms, including their definition as evidence of ownership of a stock, bond, or debt.
Explore the definition of a lien, a crucial legal concept representing a claim against property by a worker or creditor who has not received appropriate payment.
