The federal agency charged with the responsibility of regulating the securities industry and enforcing federal securities regulation.

See Protected cell company.

Any transaction using plan assets for personal gain, transactions on behalf of persons whose interests are adverse to the plan, and personal.

An insurance plan in which an organization makes a conscious decision to not purchase insurance and pay certain claim amounts using 100% internal funding. Self-insured

Dollar amount specified in an insurance policy that must be paid by the insured before the insurance policy will respond to a loss; often used

See Severability clause.

An injury resulting in death, serious impairment of body function, or permanent serious disfigurement.

The choices available for the payment of death benefits. The owner can select a settlement option before the insured’s death and the beneficiary has no

Contract provision that rescues the balance of a contract if one or more parts are held to be invalid or unenforceable. Also referred to as

The dollar amount of a given loss or the aggregate dollar amount of all losses for a given period.

A long-term care plan that allows the insured to purchase an additional Daily Benefit that either spouse may use.

A method of handling risk that involves the potential loss exposure being distributed among a number of persons.

A temporary policy to bridge gaps in coverage during times of transition such as coverage loss due to life or job changes, employment as a

An individual retirement account for a self-employed person or a small company. Allows for a greater contribution maximum than an IRA.

A type of captive that insures or reinsures the risks of its owner.

Requires one lump-sum, up-front premium and is often guaranteed to remain paid-up throughout the insured’s lifetime.

Damage caused by the sudden sinking or collapsing of land into an underground empty space typically caused by water on limestone or dolomite.

In statistics, an asymmetrical distribution in which the mass of the distribution is concentrated on one side or the other.

In statistics, the measure of the degree of asymmetry of a distribution.

A facility with a professionally trained staff that provides medical treatment, continuous nursing, rehabilitation, and various other health and social services to patients who are

A general class of risk; risks arising from public relations, loss of reputation, damage to brand, cultural issues, social direction or social media.

A business organization in which a sole proprietor is entitled to all profits, and will bear all losses, generated by the business and free of

A person who is hired and authorized by the insurance agent to solicit applications of insurance.

The measurable dollar amounts of an actual loss.

Also known as “dread disease” insurance, it covers some expenses associated with narrowly-defined illnesses listed on the policy, most commonly available for cancer, heart attack