The net cost of a Life Insurance contract which is found by subtracting the cash value of the contract at the end of a given year from the premiums paid, less all dividends.
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An underwriting method of determining the extra rate to be charged for a substandard insured. “Standard” is rated 100. Various impairments are assigned various numerical values. The sum of 100 plus the values of the ratings of the impairments indicates the table to use in determining the rate of the policy.