Life insurance

Life insurance

Industry: Insurance

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Life insurance

Lapse ratio

Insurance; Life insurance

The ratio of the number of life insurance policies that lapsed within a given period to the number in force at the beginning of that period.

Least expensive alternative treatment

Insurance; Life insurance

The amount an insurance company will pay based on its determination of cost for a particular procedure.

Loss and loss-adjustment reserves to policyholder surplus ratio

Insurance; Life insurance

The higher the multiple of loss reserves to surplus, the more a company's solvency is dependent upon having and maintaining reserve adequacy.

Losses and loss-adjustment expenses

This represents the total reserves for unpaid losses and loss-adjustment expenses, including reserves for any incurred but not reported losses, and supplemental reserves established by the company. ...

Licenced

Insurance; Life insurance

Indicates the company is incorporated (or chartered) in another state but is a licenced (admitted) insurer for this state to write specific lines of business for which it qualifies.

Licenced for reinsurance only

Insurance; Life insurance

Indicates the company is a licenced (admitted) insurer to write reinsurance on risks in this state.

Leverage or capitalization

Insurance; Life insurance

Measures the exposure of a company's surplus to various operating and financial practices. A highly leveraged, or poorly capitalized, company can show a high return on surplus, but might be exposed ...