Grams
Essentially Accepted Bookkeeping Standards (GAAP) – an aggregate of accounting standards, standards and greatest strategies on planning out-of financial statements allowing getting structure inside revealing.
Gramm-Leach Bliley Act (GLBA) – work, repealing Cup-Steagal Act away from 1933, lets integration regarding industrial banking companies, funding institutions and you can insurers. It permits monetary features enterprises so you’re able to mix and take part in an effective version of new clients circumstances, also insurance rates, if you are wanting to address the newest regulatory circumstances raised of the like combos.
Goodwill – the difference between the expense of acquiring the organization and the reporting entity’s show of your own guide value of the newest gotten organization.
Disgusting Advanced – the web premium having insurance policies in addition to profits, operating and you can various earnings. For life insurance, this is basically the advanced along with dividends.
Category Accident and you will Health – exposure authored to the a team basis (elizabeth.g., employees of a single workplace as well as their dependents) you to pays planned masters otherwise medical expenditures because of disease, compensation for injuries otherwise accidental death. Excludes wide variety attributable to uninsured crashes and wellness agreements and also the uninsured percentage of partially covered accident and you may health plans.
Category Annuities – Deferred Low- Varying and you may Changeable – a keen annuity price that provides a collection of according to both (1) money one to accumulate according to a guaranteed crediting rates of interest otherwise most interest put on appointed factors, and you will (2) fund where in fact the buildup are different according to the rate regarding go back of your own fundamental financial support portfolio selected because of the policyholder. The brand new contract offers brand new initiation out of payments in the certain appointed upcoming go out.
Group Annuities – Deferred Varying – a keen annuity package that give an accumulation created finance in which the buildup varies according to the price out of get back of your own fundamental resource portfolio chose by the policyholder. That it annuity deal offers the brand new initiation of money in the specific appointed upcoming go out.
Category Credit – Life – agreements bought in exposure to mortgage/credit transactions or other borrowing transactions, that don’t exceed a stated course and you can/otherwise amount and provide insurance shelter facing demise
Classification Annuities – Immediate Non-Varying and you will Varying – an enthusiastic annuity deal that give an accumulation centered on each other (1) finance one to accumulate considering a guaranteed crediting interest levels otherwise more rate of interest used on designated considerations, and (2) money in which the accumulation will vary according to the rates regarding return of one’s hidden financing profile picked of the policyholder. The fresh offer offers up the new initiation off money from the some period which can will vary, but https://paydayloansonlinedirect.com/payday-loans-nm/ the annuity profits must initiate inside thirteen months.
Class Annuities – Immediate Adjustable – an enthusiastic annuity price that provides on the earliest payment of one’s annuity at the conclusion of the fresh new fixed interval from payment once get. The new period can differ, nevertheless the annuity earnings need start in this thirteen days. Extent may differ toward worth of equities (independent account) bought because opportunities of the insurers.
Category Annuity – a binding agreement bringing earnings to have a designated time period, or lifetime of lives for someone otherwise people built so you’re able to work with a team of employees.
Category Fitness – medical health insurance issued to help you businesses, connectivity, trusts, or any other groups layer team or members and you may/otherwise the dependents, so you’re able to who a certificate out-of coverage are provided.
Category Code – yet another 3 to 5 thumb count tasked from the NAIC to recognize those people firms that are part of a bigger category from insurance providers.
Class Health Teams – Fitness Repairs (HMO) – a strategy lower than and that a keen enrollee pays a registration fixed percentage in advance in return for many total wellness worry services towards HMO’s recognized business inside a designated provider urban area.
