What is the Definition of Demand Deposit?

What is the Definition of Demand Deposit?

Customer assets that are held in a checking account. Funds can be readily withdrawn by check, “on demand.”

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 Demand Deposit?

What is the Definition of Demand Deposit?

Check out other definition of insurance terms below:


What is the Meaning of ANNUITIZATION In Insurance Terms?

The conversion of the account balance of a deferred annuity contract to income payments.


What is the Meaning of ANNUITY In Insurance Terms?

A life insurance product that pays periodic income benefits for a specific period of time or over the course of the annuitant’s lifetime. There are two basic types of annuities: deferred and immediate. Deferred annuities allow assets to grow tax-deferred over time before being converted to payments to the annuitant. Immediate annuities allow payments to begin within about a year of purchase.


What is the Meaning of ANNUITY ACCUMULATION PHASE OR PERIOD In Insurance Terms?

The period during which the owner of a deferred annuity makes payments to build up assets.


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