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 Funds can be readily withdrawn by check, “on demand.”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?
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.
Thank you for visiting our website and read this FAQ article about "What is the Definition of Demand Deposit?". We hope you get what you searching for.
definitionly.com is a website that contains information about the definition or meaning of a word. You can search for the word you are looking for in the search field above.