A situation that arises when the sum insured on an insurance policy — that is, the maximum coverage amount for...
A situation that arises when the sum insured on an insurance policy — that is, the maximum coverage amount for...
Determination of the amount to be paid against a claim in the case the amount or sum insured is undervalued...
Pro rata is Latin for proportionate allocation; in insurance, pro rata involves the process of determining the amount of premium...
In principle, a cliquet option/ ladder option (ratchet option) is an option (or a warrant, index-linked note) that subjects its...
In principle, a ladder option (ratchet option) is an option (or a warrant, index-linked note) that subjects its minimum payoff...
In principle, a ratchet option is an option (or a warrant, index-linked note) that subjects its minimum payoff to an...
It stands for guideline level premium; with respect to life insurance (particularly universal life insurance), it is the level annual...
With respect to life insurance (particularly universal life insurance), it is the level annual amount that would be required on...
With respect to life insurance (particularly universal life insurance), it is a limitation placed on a guideline premium, constituting, as...