What is the Definition of Annuity Administrative Charges?
Covers the cost of customer services for owners of variable annuities.
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 Annuity Administrative Charges?
Check out other definition of insurance terms below:
What is the Meaning of NO-FAULT In Insurance Terms?
Auto insurance coverage that pays for each driver’s own injuries, regardless of who caused the accident. No-fault varies from state to state. It also refers to an auto liability insurance system that restricts lawsuits to serious cases. Such policies are designed to promote faster reimbursement and to reduce litigation.
What is the Meaning of NO-FAULT MEDICAL In Insurance Terms?
A type of accident coverage in homeowners policies.
What is the Meaning of NO-PAY, NO-PLAY In Insurance Terms?
The idea that people who don’t buy coverage should not receive benefits. Prohibits uninsured drivers from collecting damages from insured drivers. In most states with this law, uninsured drivers may not sue for noneconomic damages such as pain and suffering. In other states, uninsured drivers are required to pay the equivalent of a large deductible ($10,000) before they can sue for property damages and another large deductible before they can sue for bodily harm.
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