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Guideline Premium Limitation

With respect to life insurance (particularly universal life insurance),  it is a limitation placed on a guideline premium, constituting, as...

GSP

It stands for guideline single premium; with respect to life insurance (particularly universal life insurance), it is the premium at...

Guideline Single Premium

With respect to life insurance (particularly universal life insurance), it is the premium at issue with respect to future benefits...

Target Premium

A type of premium that is associated with universal life policies that does not guarantee the existence of adequate funds...

Guideline Premium

With respect to life insurance (particularly universal life insurance), it is a premium defined in the policy as the maximum...

EP

It stands for earned premium; a portion of an insurance policy's premium that corresponds to the expired part of the...

Expense Ratio

The percentage of all insurance premiums that are used to pay insurance costs, including those associated with costs of acquiring,...

Earned Premium

A portion of an insurance policy's premium that corresponds to the expired part of the policy- that is, that part...

Experience Adjustment

Broadly, it constitutes a change in considerations or benefits under an insurance contract that are applicable to all relevant risk...

Insurance Pricing

The process whereby an insurer (insurance company) determines premium rates in a level adequate to cover and account for expected...