What is the Definition of Annuity Insurance Charges?
Covers administrative and mortality and expense risk costs.
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 Insurance Charges?
Check out other definition of insurance terms below:
What is the Meaning of MISREPRESENTATION In Insurance Terms?
A false or misleading statement. (1) In insurance sales, a false or misleading statement made by a sales agent to induce a customer to purchase insurance is a prohibited sales practice. (2) In insurance underwriting, a false or misleading statement by an insurance applicant may provide a basis for the insurer to avoid the policy.
What is the Meaning of MISSTATEMENT OF AGE OR SEX PROVISION In Insurance Terms?
A life insurance, health insurance, and annuity policy provision that describes how policy benefits will be adjusted if the age or sex of the insured has been misstated in the insurance application. Typically, the benefits payable will be those that the premiums paid would have purchased for the correct age or sex.
What is the Meaning of MODIFIED PREMIUM POLICIES In Insurance Terms?
An insurance policy for which the policy owner first pays a lower premium than she would for a similar level premium policy for a specified initial period and then pays a higher premium than she would for a similar level premium policy. Contrast with Level premium policies and Single premium policies.
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