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  • Tuesday, April 29, 2025
  • The Financial Encyclopedia
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Longevity Risk

The danger or possibility that a portfolio of an insurance firm, pension scheme or any annuity-paying institution will suffer a...

    Mortality Risk

    The danger or possibility that a portfolio of a life insurance company will suffer a drainage of resources from mortality...

      Acceleration Life Insurance

      A type of insurance policy under which the insured receives a certain percent of the death benefit (usually 25%) on…

        Acceptance

        In contract law, it is an agreement to an offer. Both offer and acceptance are essential for contract formation. For…

          BEL

          It stands for best estimate liability; an estimation of the liability value of a portfolio of insurance policies. It refers...

            Best Estimate Liability

            An estimation of the liability value of a portfolio of insurance policies. It refers to the unbiased estimate of the...

              Variable Fee

              A fee that is charged by an insurer for the services it provides to the policyholders. It constitutes the insurer's...

                VFA

                It stands for variable fee approach; with respect to an insurance contract with direct participation features, it is the applicable...

                  Variable Fee Approach

                  With respect to an insurance contract with direct participation features, it is the applicable approach for measurement of the fulfillment...

                    Participating Contract

                    An insurance contract that involves direct participation of policyholders whereby they are allowed to share in the profits in the...