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Variable universal life is a type of permanent life insurance, because the death benefit will be paid if the insured dies at any time as long as there is sufficient cash value to pay the costs of insurance in the policy. With most if not all VULs, unlike whole life, there is no endowment age (the age at which the cash value equals the death ...
The face value, sometimes called nominal value, is the value of a coin, bond, stamp or paper money as printed on the coin, stamp or bill itself [1] by the issuing authority. The face value of coins, stamps, or bill is usually its legal value. However, their market value need not bear any relationship to the face value.
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person (often the policyholder). Depending on the contract, other events such as terminal ...
Yes, you can cancel a life insurance policy at any time. If you have a term policy, you can either formally cancel with your insurance company, or you can simply stop paying the premiums. With ...
Credit default swap. A credit default swap ( CDS) is a financial swap agreement that the seller of the CDS will compensate the buyer in the event of a debt default (by the debtor) or other credit event. [1] That is, the seller of the CDS insures the buyer against some reference asset defaulting.
No fixed meaning, implies the second moment to calculate but often implying double force of interest. Actuarial notation is a shorthand method to allow actuaries to record mathematical formulas that deal with interest rates and life tables . Traditional notation uses a halo system, where symbols are placed as superscript or subscript before or ...
Cash value. Cash value refers to an investment component in life insurance that grows tax-free over the course of the policy's life. Cash value is a part of permanent life insurance policies and is a living benefit that the policyholder can use during his or her lifetime. [1]
Actuarial present value. The actuarial present value ( APV) is the expected value of the present value of a contingent cash flow stream (i.e. a series of payments which may or may not be made). Actuarial present values are typically calculated for the benefit-payment or series of payments associated with life insurance and life annuities.
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