Wholesale Life Insurance
Variation of group life insurance that covers a small group of persons who work for the same employer. With group life insurance, the employer owns the policy; with wholesale insurance, each employee applies for and owns his or her own policy. However, the employer must agree to pay at least part of wholesale life insurance premiums for the group to qualify for wholesale insurance. Wholesale insurance was devised for groups as small as 10 persons when group insurance was limited by law to a minimum of 50 members. Today, group insurance is sold to smaller groups and wholesale insurance is written for groups as small as five persons.
Popular Insurance Terms
Monthly income payment provided by a Disability income insurance policy to the insured wage earner when income has been interrupted or terminated because of illness, sickness, or accident. ...
Termination of coverage in insurance. ...
Increases (decreases) in capital assets (such as stocks and bonds) between the date of purchase and the date of sale. ...
Financial analysis method established by the national association of insurance commissioners (naic) to detect problems of property and casualty insurance companies and life and health ...
Incidents covered under workers compensation benefit. ...
Describing a risk whose probability of loss is less than the norm or the standard expectation of loss for that underwriting classification. ...
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Coverage under the auspices of a federal or state agency that can be either mandatory or elective. ...
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