What is the Definition of Guarantee Period?
Period during which the level of interest specified under a fixed annuity is guaranteed.
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 Annuity?
What is the Definition of Guarantee Period?
You can find random definition and meaning of insurance terms below:
Meaning of Moral Hazard in Insurance Terms
The possibility that a person may act dishonestly in an insurance transaction.
Meaning of Morbidity Rate in Insurance Terms
The rate at which sickness and injury occur within a defined group of people. Insurers base health insurance premiums in part on the morbidity rate for a proposed insured’s age group. Contrast with Mortality rate.
Meaning of Mortality Rate in Insurance Terms
A percentage rate at which death occurs among a defined group of people of a specified age and sometimes of a specified gender. Insurers base the premiums for life insurance in part on the mortality rate for a proposed insured’s age group. Contrast with Morbidity rate.
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