What is the Definition of Net Payment Cost Comparison Index?
What is the Definition of Net Payment Cost Comparison Index?
A cost comparison index used to compare life insurance policies that takes into account the time value of money and that measures the cost of a policy over a 10or 20-year period assuming the policy owner pays premiums over the entire period. Contrast with Surrender cost comparison index.
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 Net Payment Cost Comparison Index?
You can find random definition and meaning of insurance terms below:
What is the meaning of Tort
A private or civil wrong or injury, other than breach of contract, which violates a person's legally protected right(s), and for which the law may permit a remedy in the form of money damages.
What is the meaning of Total Loss
Property that has sustained damage so extensive that repairing it is not reasonable. A vehicle is considered a total loss if it cannot be repaired safely, if repairing the vehicle is not economically practical, or if state regulations require us to consider it a total loss.
What is the meaning of Towing and Labor Coverage
Provides insurance if your auto needs to be towed or requires roadside assistance.
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