Securities Act Of 1933
Definition of "Securities act of 1933"
Landmark legislation passed by Congress providing the first regulation of the securities markets. The law, enforced by the securities and exchange commission (sec), requires registration of securities issues and disclosure of material information about the financial condition of the issuers. Variable annuity and variable life insurance policies have been determined to be securities under the terms of this law and thus are subject to regulation both by the SEC and by state insurance departments.
Popular Insurance Terms
Same as term American Risk and Insurance Association: membership organization of companies,academics, and individuals in the insurance business whose interest is to further education and ...
Agency of the federal government formed as the result of bankruptcies of savings and loan associations during the 1930s. Insures deposits of customers up to $100,000 for each account. In ...
A historical mortality table used to calculate premium rates for deferred annuities and optional modes of settlement for life insurance policies. This table was subsequently replaced by the ...
Contract providing whole life insurance on the father and term insurance on the mother and all children, including newborns after reaching a stated age, usually 15 days. Children, upon ...
Insured, or an applicant for insurance, with lower expectation of incurring a loss than the standard applicant. For example, an applicant for life insurance who does not smoke can usually ...
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 ...
Top state regulator of the insurance business who is either elected to office or appointed by a state to safeguard the interests of policyowners. ...
Health and medical insurance that excludes coverage for job-related injuries and illnesses. Most medical insurance policies do not provide benefits for job-related claims, which are covered ...
Addition to a property policy providing coverage for a specified amount. This endorsement is typically used for an unusual or valuable piece of property that does not fit standard ...
Have a question or comment?
We're here to help.