Term
| if a policy pays dividends, it is known as a |
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Definition
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Term
| both stock and mutual insurers issue |
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Definition
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Term
| participating policies give the policy owner the right to hare int he divisible surplus of the |
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Definition
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Term
| represent largely a refund of part of the gross premium if the insurer has favorable experience w/ respect to mortality, interest, and expenses |
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Definition
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Term
| a policy that does not pay dividends is a |
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Definition
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Term
| policy dividend can be derived from the difference btwn expected and actual |
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Definition
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Term
| policy dividends can be derived from excess interest earnings on the assets required to maintain |
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Definition
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Term
| policy dividends can be derived from the difference btwn expected and actual operating |
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Definition
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Term
| is usually payable after the policy has been in force for a stated period |
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Definition
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Term
| the policy owner receives a check equal to the dividend, usually on the |
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Definition
| anniversary date of the policy |
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Term
| the dividend can be used to reduce the next |
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Definition
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Term
| the dividend notice will indicate the amt of the dividend, and the policy owner must then remit the difference btwn the |
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Definition
| premium and the actual dividend paid |
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Term
| this option for dividends is appropriate when premium pmts become financially burdensome |
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Definition
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Term
| can be used if the policy owner has a substantial reduction in income and expenses must be reduced |
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Definition
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