The risk, other than financial risk, that is transferred from the holder of an insurance contract to the issuer. This...

A market in which insurance companies limit the supply of insurance and increase prices, leading to high levels of profitability....

A market that is characterized by high levels of competition among insurance firms, decreasing prices, and declining underwriting standards as...

In contract law, it is an agreement to an offer. Both offer and acceptance are essential for contract formation. For...

A life insurance policy option under which accrued dividends may be used to mature the policy as endowment insurance. This...

A type of insurance policy under which the insured receives a certain percent of the death benefit (usually 25%) on...

A life insurance policy provision which allows the policyholder to apply the accumulated cash value, as a single premium payment,...