Life insurance

Life insurance

Industry: Insurance

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Life insurance

Total loss

Insurance; Life insurance

A loss of sufficient size that it can be said no value is left. The complete destruction of the property. The term also is used to mean a loss requiring the maximum amount a policy will pay.

Coverage for losses above the limit of an underlying policy or policies such as homeowners and auto insurance. While it applies to losses over the dollar amount in the underlying policies, terms of ...

Unaffiliated investments

Insurance; Life insurance

These investments represent total unaffiliated investments as reported in the exhibit of admitted assets. It is cash, bonds, stocks, mortgages, real estate and accrued interest, excluding investment ...

Valuation reserve

Insurance; Life insurance

A reserve against the contingency that the valuation of assets, particularly investments, might be higher than what can be actually realised or that a liability may turn out to be greater than the ...

Variable annuitization

Insurance; Life insurance

The act of converting a variable annuity from the accumulation phase to the payout phase.

Variable life insurance

Insurance; Life insurance

A form of life insurance whose face value fluctuates depending upon the value of the dollar, securities or other equity products supporting the policy at the time payment is due.