Tag: insurance
Yearly Renewable Group Term Insurance
What is 'Yearly Renewable Group Term Insurance ' A type of insurance policy purchased by employers to cover several people at a...
Yearly Price Of Protection Method
What is 'Yearly Price Of Protection Method' A method used in actuarial analysis, which is often used in the insurance industry. The...
York Antwerp Rules
What is 'York Antwerp Rules' A set of maritime rules that outline the rights and obligations of ship and cargo owners when...
Yearly Renewable Term Plan of Reinsurance
What is 'Yearly Renewable Term Plan of Reinsurance' A type of life reinsurance where mortality risks are transferred to a reinsurer. In...
Yearly Probability Of Dying
What is 'Yearly Probability Of Dying' A numerical figure that depicts the likelihood of someone dying per year. The yearly probability of...
Implied Contract
What is an implied contract
An implied contract is a legally binding agreement between two parties that is not written or spoken, but is simply...
Impound
What is 'Impound' An account maintained by mortgage companies to collect amounts such as hazard insurance, property taxes, private mortgage insurance and...
Incentive Trust
DefinitionIn American estate planning parlance, an incentive trust is a trust designed to encourage or discourage certain behaviors by using distributions of trust income...
Immediate Payment Annuity
What is an 'Immediate Payment Annuity' An immediate payment annuity is an annuity contract that is purchased with a single lump-sum payment...
In Escrow
What does 'In Escrow' mean In escrow is an item such as money or a piece of property that has been transferred...