An employer-sponsored defined contribution retirement plan that provides certain tax benefits to both employees and employers.

The giving up of property by the insured to the insurance company in order to collect the value of the property rather than restoring or

The transfer of ownership of a life insurance policy to another person or entity. The assignee becomes the new policy owner.

Responsibility without regard to fault or negligence.

Payment of a portion of a death benefit to the insured prior to the insured’s death if the insured is diagnosed as terminally ill.

An unplanned event, definite as to time and place, that results in injury or damage to a person or property.

A benefit that typically equals the face value of the contract or principal sum, paid in addition to the face amount of a life insurance

Process to help quantify an organization’s assets, liabilities, stakeholder equities, and cash flows at a point in time.

In financial management, the measurement of the percentage return of average annual cash flows on initial investment.

Organized set of accounting methods, procedures, and controls to collect, record, classify, and present accurate and timely financial data for use in management decision-making.

Money owed to the insured by the insured’s clients.

The period during which deposits are made and investment earnings accrue between purchase of a deferred annuity and the distribution of funds.

During the accumulation period of a deferred annuity, the amount paid for the annuity, plus interest earned, less the amount of any withdrawals and fees.

One organization takes over another organization and is established as the new owner with the ownership interests continuing unchanged.

An event produced by a physical cause of nature, and not within human control or intervention.

An event produced by a physical cause of nature, and not within human control or intervention.

Planned acceptance of losses to be financed internally through the use of deductibles on insurance policies, loss sensitive insurance plans, and deliberate non-insurance. See Passive

Person’s ability to perform such activities as bathing, dressing, toileting, maintaining continence, transferring, and eating.

Replacement cost less an allowance for insurance depreciation, wear and tear, or obsolescence.

Provide information for risk financing from the calculation of future payouts of uncertain estimates.

An individual who calculates premium rates, reserves, dividends, and other important statistics.

Care requiring constant monitoring and designed to treat or cure an illness, injury, or condition.

Abbreviation for Actual Cash Value. Defined as replacement cost less an allowance for insurance depreciation, wear and tear, or obsolescence.

Person’s ability to perform such activities as bathing, dressing, toileting, maintaining continence, transferring, and eating.

Assets whose value is included in the annual statement of an insurance company to insurance regulators; include cash and short-term deposits readily convertible into cash,