What is the Definition of Domestic Insurance Company?

What is the Definition of Domestic Insurance Company?

Term used by a state to refer to any company incorporated there.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Insurance?

What is the Definition of Domestic Insurance Company?

What is the Definition of Domestic Insurance Company?

Check out other definition of insurance terms below:


Meaning of Void in Insurance Terms

A policy contract that for some reason specified in the policy becomes free of all legal effect. One example under which a policy could be voided is when information a policyholder provided is proven untrue.


Meaning of Viatical Settlement Companies in Insurance Terms

Insurance firms that buy life insurance policies at a steep discount from policyholders who are often terminally ill and need the payment for medications or treatments. The companies provide early payouts to the policyholder, assume the premium payments, and collect the face value of the policy upon the policyholder’s death.


Meaning of Variable Universal Life (Vul) Insurance in Insurance Terms

A form of permanent life insurance that combines the  premium and death benefit flexibility of universal life insurance with the investment flexibility and risk of variable life insurance. With this type of policy, the death benefit and the cash value fluctuate according to the contract’s investment performance. Also known as universal life II.


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