Definition of "Sex"
Demographic designation used in life insurance to calculate premium rates for life and health insurance and annuity contracts. Since females have a longer life expectancy than males of the same age, life insurance premiums for females are lower than for males of the same age. Annuity income for females, by the same token, is lower than for males of the same age. These differences are being contested.
Popular Insurance Terms
Money expended with the object of profit. The goal of an insurance company is to invest in assets with a rate of return greater than that to be paid out as benefits under its policies. ...
Retirement plan under which contributions are fixed in advance by formula, and benefits vary. These plans are often used by organizations that must know what the cost of employee benefits ...
Acceptance of an application for an insurance policy by the insurance company, indicated by the signature of an officer of the company on the policy. The officer, who must have signature ...
Real property (structure (s) attached to the land) that is occupied and/or is under the care, custody, or control of an individual, individuals, or an organization for which an insurance ...
Flat amount added to the basic premium rate to reflect the cost of issuing a policy, establishing the required records, sending premium notices, and other related expenses. ...
Reductions in the value of property due to physical damage or destruction. ...
Value of an insurance company or other company that consists of capital and surplus and an estimated value for business on the company's books. ...
Addition to a workers compensation insurance policy to cover payments to injured employees who are not covered by a state's workers compensation law. This endorsement provides employees who ...
Right to insurable interest in property such as the right of a secured creditor in the property pledged as security. ...
Have a question or comment?
We're here to help.