Accumulation Period
Time frame during which an annuitant makes premium payments to an insurance company. The obligations of the company to the annuitant during this period depend on whether a pure annuity or refund annuity is involved. Many factors enter an annuity purchase, but some experts suggest a pure annuity to minimize cost and if there are no dependents. In other circumstances a refund annuity might be considered.
Popular Insurance Terms
Law, in several states, establishing a fund to guarantee benefits under policies issued by insurance companies that become insolvent. ...
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Provision in an insurance policy that states the monetary value of each piece of property to be insured. ...
Standard property-liability insurance premium set by a rating bureau for a particular class of risk. ...
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Same as term Mortality Table: chart showing rate of death at each age in terms of number of deaths per thousand. ...
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Actuarial method of crediting retirement benefits earned and the costs associated with these earned retirement benefits. An increment (unit) of benefit is credited for each year of ...
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