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Guideline Level Premium

With respect to life insurance (particularly universal life insurance), it is the level annual amount that would be required on...

Guideline Premium Limitation

With respect to life insurance (particularly universal life insurance),  it is a limitation placed on a guideline premium, constituting, as...

GSP

It stands for guideline single premium; with respect to life insurance (particularly universal life insurance), it is the premium at...

Guideline Single Premium

With respect to life insurance (particularly universal life insurance), it is the premium at issue with respect to future benefits...

Target Premium

A type of premium that is associated with universal life policies that does not guarantee the existence of adequate funds...

Guideline Premium

With respect to life insurance (particularly universal life insurance), it is a premium defined in the policy as the maximum...

Underwriting Loss Ratio

A ratio that relates losses incurred by an insurance firm to earned premiums (EPs) expressed as a percentage. Underwriting loss...

Loss Ratio

A ratio that relates losses incurred by an insurance firm to earned premiums (EPs) expressed as a percentage. Loss ratio...

Front-End Load

An amount (of costs) that is charged at the beginning of an insurance policy rather than in smaller amounts spread...

Claim Closed Without Payment

A claim is said to be closed without payment (CWP) when it is dismissed and closed, by an insurance firm,...