Usufructuary
Definition of "Usufructuary"
Individual who has the right to the use of assets while the usufruct is in force.
Popular Insurance Terms
Methods of handling policyholder dividends. In a participating life insurance policy, dividends are paid to the policy owner according to which of the following options is selected: applied ...
Salaries plus commissions plus overhead expenses plus office rent plus fees charged for memberships in industry associations and bureaus plus guaranty association assessments plus taxes ...
Same as term Cargo Insurance: shipper's policies covering one cargo exposure or all cargo exposures by sea on all risks basis. Exclusions include war, nuclear disaster, wear and tear, ...
Life insurance policy (individual or employee group basis) providing protection for a passenger on a regularly scheduled airline. ...
Provision in some disability income policies that provides a monthly income benefit to a disabled insured for as long as he or she remains disabled according to the definition of disability ...
Life insurance on the life of a child. ...
Legal document setting out the rules to be followed by a trustee in administering assets of a trust. The trust agreement may limit investment of trust assets to specified types of ...
Reinsurance: total of the limits of liability of all reinsurance policies that a reinsurer has outstanding on a single risk. The total of all such limits includes all ceding contracts from ...
Audit of the convention blank (NAIC Statement Blank) every third year as to all of the financial activities of a company; company claim practices; and general policy owner relations. ...
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