The value of an asset based on the price a willing buyer would pay and current market
A single insurance contract issued to an employer or other entity that provides
group insurance to eligible employees or members, typically by issuing a certificate
of insurance to such member.
Medical Information Bureau (MIB) :
The organization that maintains a secure, centralized computer facility that stores
the coded health history of persons who have applied for insurance from subscribing
companies in the past. This information is then available to other insurance companies
for future insurability evaluations. For more information, you may visit the
Inaccurate information provided by the applicant during the application process.
Providing inaccurate information with the intent to receive a lower premium in considered
intent to defraud.
Mortgage Life Insurance:
A type of life insurance that pays the remaining
balance of mortgage if the insured dies. This is usually a decreasing term insurance
policy where the death benefit decreases over time as the balance on the mortgage
An insurer whose policy owners are also owners of the company, entitled to dividends
(return of premium) and, in some cases, proxy rights. Mutual companies do not have
their stocks trading on the stock exchange.
For more reference, click on any of the letters below to find life insurance terms
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