Home | About | Compare & Save | Insurance Company Ratings | Understanding Insurance | Articles | Links | Contact | Video Life insurance...because life is unpredictable. Auto Insurance Life Insurance Importance of Life Insurance Time Is Money Life Insurance For The Self Employed Life Insurance Needs Analysis Glossary of Life Insurance Terms Health Insurance Glossary of Life Insurance Terms A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Definitions written so you can actually understand them. Browse alphabetically, or search for a word or term by typing it into the search field located in the top navigation by the GO button (above right). Rated Policy A life insurance policy issued to a person classified as having a greater-than-average likelihood of loss. The type of life insurance policy is generally issued with special exclusions, a premium rate that is higher than the rate for a standard policy, or both. Back to Top Rate Making Actuaries’ calculation of premium rates for an life insurance company's products. In creating these rates, the actuaries consider several factors, including mortality rates, interest rates, and loading. Back to Top Rate of Return Method Also called the Linton yield method, this method of comparing the costs of life insurance policies is calculated using the annual interest rate to representing a rate of return. Back to Top Rating Classes The three different ways insurance companies calculate group life insurance premiums: 1) Manually rated premiums, 2) experience rated premiums, and 3) blended premiums. Back to Top Rating Manual An underwriting manual condensed to include only suggested ratings and a small amount of background information for each impairment listed. Back to Top Recording Method One of several methods used by life insurance companies for changing the name of the beneficiary on a policy. With the recording method, the policyholder makes the change effective by notifying the insurance company of the change in writing. Back to Top Reduced Paid-up Insurance Option A life insurance policy nonforfeiture option by which the net cash value of the policy is used as a net single premium to purchase a smaller amount of fully paid insurance of the same kind and for the same period as the policy being surrendered. Back to Top Reinstatement The process life insurance companies use to put policies back in force that had lapsed due to nonpayment of premiums. Back to Top Right of Survivorship The right of a surviving joint tenant to take ownership of a deceased joint tenant's share of the property. Back to Top   Life insurance...because life is unpredictable. InsureMeOnline.com Car Insurance Quotes Rate Your Insurance Company Car Insurance Tutorial Auto Insurance News Competitive Auto Insurance Quotes Life Insurance Tutorial Life Insurance News Save Money on Life Insurance Privacy Policy Terms of Use Site Map COPYRIGHT © 2008-2010 InsureMeOnline.com