Safety Of Assets
Definition of "Safety of assets"
Quality of investments of insurance companies. State insurance regulators establish rules for company investments. Authorized investments vary, depending on whether a company is a life insurer or property casualty company and, in some instances, on whether it is a mutual or stock company. Investments must meet standards for asset type, credit quality, and diversification. Generally, insurance company assets are limited to government securities, bonds, stocks, mortgages, and certain real estate holdings.
Popular Insurance Terms
Coverage for the owner of a business. When a proprietor dies, debts of the business become the debts of the estate since in this circumstance the law recognizes business and personal assets ...
Individual to whom rights to a benefit are assigned. A life insurance policy is assigned by the collateral borrower (assignor) to the collateral creditor (assignee) as security for a loan. ...
Interest earned on dividends from a participating life insurance policy left on deposit with the insurance company and subject to taxation. ...
Requirement of an employer to report annually to the U.S. Treasury Department the names of employees who terminated employment with vested benefits, and the amount of the benefits. The ...
Claim against property for payment of taxes. Life insurance proceeds and annuity benefits are protected against certain creditors of the insured, but the federal government is not one of ...
Assets, such as furniture and fixtures, that are not permitted by state law to be included in an insurance company's ANNUAL STATEMENT. ...
Individual or other entity who owns an insurance policy. Synonymous with policyowner. ...
Deductible eliminated through the payment of an additional premium, resulting in first-dollar coverage under the policy. ...
Deductible amount between a basic health insurance plan and major medical insurance. ...
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