Grams
Essentially Recognized Bookkeeping Standards (GAAP) – a keen aggregate of your own bookkeeping conditions, principles and greatest techniques into the preparing of economic comments enabling for texture inside reporting.
Gramm-Leach Bliley Operate (GLBA) – work, repealing Glass-Steagal Act of 1933, lets integration of commercial finance companies, financial support institutions and you will insurance firms. It allows economic features businesses so you’re able to mix and you can participate in good kind of new clients issues, together with insurance policies, when you’re attempting to address the regulatory points elevated of the including combos.
Goodwill – the difference between the price of having the entity therefore the revealing entity’s show of one’s book property value the fresh new acquired organization.
Disgusting Premium – the web premium to possess insurance rates together with profits, operating and you may various commissions. Forever insurance rates, this is the premium and dividends.
Class Crash and you can Wellness – publicity created toward a group base (age.grams., employees of just one employer in addition to their dependents) one to will pay arranged advantages or medical expenditures considering disease, personal injury otherwise unintentional death. Excludes wide variety owing to uninsured accidents and you will health preparations and the uninsured part of partly covered accident and you will wellness preparations.
Group Annuities – Deferred Low- Changeable and you will Variable – an enthusiastic annuity package that provide an accumulation according to one another (1) loans one collect according to a guaranteed crediting rates of interest or a lot more interest rate used on designated factors, and you will (2) loans where the buildup are different according to the rates from return of your own underlying financing portfolio chosen by policyholder. The bargain offers this new initiation out of costs within certain designated coming day.
Class Annuities – Deferred Variable – a keen annuity contract that provides an accumulation created loans where in fact the accumulation may differ in accordance with the price paydayloansonlinedirect.com/installment-loans-mt of come back of your fundamental investment collection picked by the policyholder. So it annuity price offers the newest initiation from payments within specific appointed coming day.
Class Borrowing from the bank – Lifetime – contracts available in connection with financing/borrowing transactions or other borrowing from the bank transactions, which do not meet or exceed a stated stage and you will/otherwise number and supply insurance safeguards up against passing
Class Annuities – Immediate Low-Varying and you may Variable – an enthusiastic annuity package giving an accumulation based on both (1) finance one to collect based on a guaranteed crediting rates of interest otherwise most interest placed on designated considerations, and you can (2) finance where accumulation are different in accordance with the rate off come back of the root investment profile picked by policyholder. The brand new contract provides for the fresh new initiation out-of repayments at the certain period that are different, however the annuity earnings need start contained in this thirteen days.
Category Annuities – Instantaneous Changeable – an annuity package that provide into earliest fee of one’s annuity after the fixed period from percentage shortly after buy. New interval can vary, although annuity winnings need certainly to start contained in this thirteen days. The total amount may vary for the worth of equities (separate account) purchased just like the opportunities from the insurance providers.
Classification Annuity – a binding agreement getting income having a selected time period, or duration of life for someone or persons founded to help you benefit several group.
Classification Health – medical insurance awarded so you’re able to employers, connectivity, trusts, or other communities covering group otherwise people and you will/or the dependents, so you can just who a certification off publicity may be provided.
Group Password – a different sort of three to five fist amount tasked from the NAIC to determine those firms that are included in a bigger classification from insurers.
Category Fitness Teams – Fitness Fix (HMO) – a strategy not as much as hence an enthusiastic enrollee will pay a membership repaired commission beforehand in return for numerous total fitness care and attention functions towards HMO’s recognized team inside a selected services town.
