Search results
Results from the WOW.Com Content Network
Corporate-owned life insurance (COLI), is life insurance on employees' lives that is owned by the employer, with benefits payable either to the employer or directly to the employee's families. Other names for the practice include janitor's insurance and dead peasants insurance .
Life insurance companies in the United States support the Medical Information Bureau (MIB), [22] which is a clearing house of information on persons who have applied for life insurance with participating companies in the last seven years. As part of the application, the insurer often requires the applicant's permission to obtain information ...
An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and ...
Although it helps focus managers' attention on strategic issues and the management of the implementation of strategy, it is important to remember that the balanced scorecard itself has no role in the formation of strategy. [7] In fact, balanced scorecards can co-exist with strategic planning systems and other tools. [8]
U.S. Life insurance companies are required by state regulation to set up reserve funds to account for said over-payments, which represent promised future benefits, and are classified as Legal Reserve Life Insurance Companies. The Death Benefit promised by the contract is a fixed obligation calculated to be payable at the end of life expectancy ...
The company soon expanded into "industrial life insurance," so named because it was generally aimed at industrial workers, which was also sold on the debit system, and accidental death and dismemberment insurance, which rather than a weekly income paid a stated, fixed amount, if the insured died by accident or lost sight or use of an eye or a limb.
This is called double indemnity coverage and is often available even when accidental death insurance is merely an add-on to a regular life insurance plan. Some of the covered accidents include traffic accidents , exposure, homicide , falls, heavy equipment accidents and drowning .
Death spiral is a condition where the structure of insurance plans leads to premiums rapidly increasing as a result of changes in the covered population. It is the result of adverse selection in insurance policies in which lower risk policy holders choose to change policies or be uninsured. The result is that costs supposedly covered by ...