Life insurance

Life insurance

Industry: Insurance

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Life insurance

Subrogation

Insurance; Life insurance

The right of an insurer who has taken over another's loss also to take over the other person's right to pursue remedies against a third party.

In hospital income protection, when confinements in a hospital are due to the same or related causes and are separated by less than a contractually stipulated period of time, they are considered part ...

Surrender charge

Insurance; Life insurance

Fee charged to a policyholder when a life insurance policy or annuity is surrendered for its cash value. This fee reflects expenses the insurance company incurs by placing the policy on its books, ...

Surrender period

Insurance; Life insurance

A set amount of time during which you have to keep the majority of your money in an annuity contract. Most surrender periods last from five to 10 years. Most contracts will allow you to take out at ...

Term life insurance

Insurance; Life insurance

Life insurance that provides protection for a specified period of time. Common policy periods are one year, five years, 10 years or until the insured reaches age 65 or 70. The policy doesn't build up ...

Tort

Insurance; Life insurance

A private wrong, independent of contract and committed against an individual, which gives rise to a legal liability and is adjudicated in a civil court. A tort can be either intentional or ...

Total admitted assets

Insurance; Life insurance

This item is the sum of all admitted assets, and are valued in accordance with state laws and regulations, as reported by the company in its financial statements filed with state insurance regulatory ...