Servicemen
Definition of "Servicemen"
U.S. government group term life insurance for male and female members of the federal uniformed forces on active duty, underwritten by private insurance companies. Premiums reflect peacetime mortality rates for this group, with any additional costs of military risks (such as wartime exposure) being borne by the federal government. Upon discharge, SGLI policies can be converted either to five-year nonrenewable term veterans group life insurance (VGLI) or to a permanent policy at the veteran's attained age (at higher cost) with one of the commercial insurance companies participating in the serviceman's plan.
Popular Insurance Terms
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Model act written and published by the national association of insurance commissioners (naic) whose purpose it is to regulate brokers who control insurance companies. The act permits the ...
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Losses representing claims paid. ...
Agreement concerning an insured individual, not the insured's property. A property and casualty insurance contract cannot be assigned, since it follows the insured, not the property. For ...
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