G

Basically Recognized Bookkeeping Beliefs (GAAP) – a keen aggregate of the accounting requirements, prices and best practices for the preparation off economic statements enabling to possess surface inside revealing.

Gramm-Leach Bliley Act (GLBA) – operate, repealing Glass-Steagal Work regarding 1933, lets combination regarding industrial banks, capital organizations and you will insurance vendors. It allows financial features enterprises so you can merge and you will participate in a good kind of new business facts, plus insurance policies, when you are wanting to target new regulatory items elevated because of the eg combos.

Goodwill – the difference between the cost of having the organization therefore the revealing entity’s share of the guide property value the fresh new gotten entity.

Gross Advanced – the online superior getting insurance rates including earnings, doing work and miscellaneous profits. For life insurance coverage, this is basically the superior along with returns.

Classification Crash and you can Health – exposure authored toward a group foundation (e.g., teams of a single employer in addition to their dependents) one pays arranged pros otherwise scientific expenses due to state, injury or accidental demise. Excludes numbers due to uninsured accidents and you can wellness agreements additionally the uninsured part of partially insured collision and you will fitness arrangements.

Classification Annuities – Deferred Low- Varying and you may Variable – a keen annuity bargain that provide a collection of predicated on each other (1) funds one to collect predicated on an ensured crediting interest rates otherwise even more rate of interest applied to designated factors, and you can (2) finance where in fact the buildup are different according to the price from get back of your own underlying financial support profile chosen by policyholder. The brand new contract offers the brand new initiation from money within some appointed future time.

Category Annuities – Deferred Changeable – an annuity package that provides a collection of created funds the spot where the buildup may differ according to the rate out-of come back of your own root financial support profile picked because of the policyholder. It annuity bargain offers up new initiation of costs from the specific appointed upcoming time.

Classification Credit – Lifetime – contracts purchased in contact with financing/borrowing from the bank transactions and other borrowing purchases, that do not exceed a reported stage and you may/otherwise number and supply insurance rates safety facing death

Category Annuities – Quick Low-Variable and you will Varying – a keen annuity bargain that give an accumulation of based on one another (1) money you to definitely collect according to an ensured crediting interest levels or a lot more rate of interest used on designated factors, and you can (2) money where in actuality the buildup differ in accordance with the speed from return of one’s underlying capital profile chosen from the policyholder. The fresh new contract offers up the newest initiation off costs at the specific interval that may differ, but the annuity winnings must begin contained in this 13 weeks.

Category Annuities – Instant Varying – an annuity contract that provide toward earliest commission of one’s annuity after the newest fixed period from fee once get. The newest period can vary, nevertheless annuity winnings have to start contained in this thirteen weeks. The total amount may vary on the value of equities (separate membership) ordered since expenditures from the insurance vendors.

Class Annuity – an agreement providing money having a designated time period, otherwise time of lives for someone otherwise people situated in order to benefit several group.

Classification Wellness – medical insurance awarded to help you businesses, contacts, trusts, or other groups level group otherwise participants and you may/or their dependents, so you’re able to who a certificate regarding publicity tends to be provided.

Class Password – a different sort of less than six fist matter assigned because of the NAIC to spot people firms that are part of more substantial category out-of insurance companies.

Category Wellness Teams – Health Repairs (HMO) – an agenda lower than and that a keen enrollee will pay a registration fixed percentage beforehand in return for numerous comprehensive health worry services towards the HMO’s acknowledged organization inside a selected service area.