Tax Treatment Of Life Insurance Payments
The loss benefits of a life insurance policy are excused from taxes. Even with fresh tax rate reductions and a phased in increase in the sum of a person

Term Certain Annuity
An appearance of annuity that pays out over an unchanging period rather than when the annuitant dies.

Term Insurance
A preparation of insurance that covers the insured for only a positive period of time, not for his or her entire life. The policy pays loss benefits only if the insured dies during the expression.

Term Life Insurance
A appearance of life insurance that covers the insured person for a convinced period of time, the expression that is individual in the policy.

Term Rider
Expression insurance that is additional to a whole life policy at the instance of purchase or that may be added in the future.

Territorial Rating
A process of classifying risks by geographic position to set a fair price for coverage. The position of the insured may have a considerable impact on the value of losses.

Terrorism Coverage
Integrated as a element of the package in standard commercial insurance policies previous to September 11, 2001 virtually free of charge. Since September 11, intimidation coverage prices have augmented substantially to imitate the current risk.

Third Party Administration
An exterior person or firm that maintains all records of persons sheltered under an insurance plan. The TPA also may pay claims with the draft manuscript system.

Third Party Administrator
Outside group that performs clerical functions for an insurance company.

Third Party Coverage
Liability coverage purchased by the policyholder as a protection against possible lawsuits filed by a third party. The insured and the insurer are the first and second parties to the insurance contract.

Time Deposit
Funds that are held in a savings account for a predetermined period of time at a set interest rate.

Time Limit
A particular number of days in which a perceive of claim or evidence of a loss must be filed.

Title Insurance
Insurance that indemnifies the proprietor of real estate in the occurrence that his or her clear rights of property is challenged by the sighting of faults in the title. Title insurance protects next to the variety of financial fatalities associated with having the heading on your home challenged, counting square costs and beating of the property.

Tort
A permissible term denoting a unlawful act resulting in injure or spoil on which a civil court action, or authorized proceeding, may be based.

Tort Law
The remains of law governing negligence, intentional interference, and other unlawful acts for which civil action can be brought, except for breach of contract, which is enclosed by contract law.

Tort Reform
An attempt by position lawmakers to modify court procedures in order to reduce the cost and delays in settling auto insurance maintains. Refers to legislation designed to diminish liability costs through limits on various kinds of damages and through modification of liability rules.

Total Assets
Whole general account admitted assets

Total Capital
The amount of borrowed money plus constitutional surplus.

Total Cash Flow Ratio
The amount of premiums together net of reinsurance plus other underwriting income plus investment income net of investment disbursement plus other income divided by the sum of loss and loss adjustment expense paid plus underwriting expenses paid plus other expenses plus payments to policyholders paid.

Total Disability
A disability that avoid a person from performing all occupational duties. The accurate definition varies between policies.

Total Liabilities
Whole general account liabilities. As statement in these analyses, mandatory securities estimate reserves included as a liability item but is counted as a part of surplus for operating leverage and return on statutory capital calculations.

Total Loss
The situation of an automobile or other property when spoil is so extensive that patch up costs would exceed the cost of the vehicle or property.

Total Revenue
Chiefly net premium revenue, allowance and fund deposits, considerations for supplementary contracts, net investment income, certain reinsurance adjustments, and miscellaneous income.

Totaling
When an insurance company determines that injure to a vehicle is so extensive that the rate to repair the motor vehicle exceeds its value or is a substantial segment of its value.

Towing And Labor Coverage
Towing and work reporting can be added as element of an auto insurance policy, in case of edge breakdowns.

Transparency
A expression used to make clear the way information on financial subjects, such as financial reports and events of companies or markets, are communicated so that they are without problems understood and frank.

Travel Insurance
Insurance to coat problems associated with peripatetic, usually including trip cancellation due to infirmity, lost luggage and other incidents.

Travel Accident Policies
Partial contracts covering accidents that take place only while an insured person is traveling on business for an employer, missing from the usual place of business, and on named conveyances.

Treasury Securities
Concentration bearing obligations of the U.S. government issued by the Treasury as a means of borrowing money to meet government expenditures not enclosed by tax revenues.

Treaty Reinsurance
Reinsurance covering extensive groups of policies. All policies written by the most important insurer within the defined groups will be enclosed and ceded to the reinsures until the policies' expiration. A standing agreement between insurers and reinsures. Below a treaty each party automatically accepts detailed percentages of the insurer’s business.