Definitions

Funds that a lender collects to pay monthly premiums in mortgage and homeowners insurance, and sometimes to pay property taxes.

Non-traditional fixed Annuity. The specified rate of interest guarantees a fixed minimum rate of interest like traditional fixed annuities. At the same time, additional interest may be Credited to policy values based upon positive changes, if any, in an established index such as the S&P 500. The amount of additional interest depends upon the particular design … Read more

In investments, the ownership interest of shareholders. In a corporation, stocks as opposed to bonds.

A form of insurance designed to cover losses and liabilities arising from damage to property caused by pollution.

A written form attached to an insurance policy that alters the policy’s coverage, terms, or conditions. Sometimes called a rider.

Federal legislation that protects employees by establishing minimum standards for private pension and welfare plans.

A kind of deductible or waiting period usually found in disability policies. It is counted in days from the beginning of the illness or injury.

The sale of products such as insurance over the Internet.

That part of the reinsurance premium applicable to the expired portion of the policies reinsured, or that portion of the reinsurance premium which is deemed earned under the reinsurance contract.

That part of the premium applicable to the expired part of the policy period, including the short-rate premium on cancellation, the entire premium on the amount of loss paid under some contracts, and the entire premium on the contract on the expiration of the policy. That portion of the reinsurance premium calculated on a monthly, … Read more