Life insurance

Life insurance

Industry: Insurance

Add a new term

Contributors in Life insurance

Become a Contributors

Life insurance

Guaranty association

Insurance; Life insurance

An organisation of life insurance companies within a state responsible for covering the financial obligations of a member company that becomes insolvent.

Impaired insurer

Insurance; Life insurance

An insurer which is in financial difficulty to the point where its ability to meet financial obligations or regulatory requirements is in question.

Indemnity

Insurance; Life insurance

Restoration to the victim of a loss by payment, repair or replacement.

Income taxes

Insurance; Life insurance

Incurred income taxes (including income taxes on capital gains) reported in each annual statement for that year.

Inflation protection

Insurance; Life insurance

An optional property coverage endorsement offered by some insurers that increases the policy's limits of insurance during the policy term to keep pace with inflation.

Guaranteed issue right

Insurance; Life insurance

The right to purchase insurance without physical examination; the present and past physical condition of the applicant are not considered.

A policy provision in many products which guarantees the policyowner the right to renew coverage at every policy anniversary date. The company does not have the right to cancel coverage except for ...