Three-factor Contribution Method
Principle of surplus distribution as the result of excess funds above the amount required to establish legal reserves. These excess funds are generated from three sources: mortality savings; excess interest earned on investments; and expense savings.
Popular Insurance Terms
Plan in which a public employer (such as a university, state, county, or municipality) sponsors a retirement savings program, named for the section of the Internal Revenue Code that permits ...
Membership organization, based in Chicago, Illinois, consisting principally of property and casualty insurance companies. Its objectives are to influence the public and the legislators on ...
Billing by an administering agency for expenses associated with administering a group employee benefit plan. ...
Disability in which a wage earner is forever prevented from working because of injury or illness suffered. ...
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Annual premium expressed on a proportionate basis such as monthly, quarterly, or semiannually. ...
Proof of death of the insured form filed with the insurance company establishing the rights of the beneficiary to the death benefit. ...
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