Definitions for "Nonparticipating Policy"
Related Terms:
Participating policy, Non-participating policy, Convertible term insurance, With-profits policy, Reinstatement provision, Surrender, Cancelable, Renewable term life insurance, Guaranteed renewable policy, Guaranteed insurability rider, Policy holder, Cancellable policy, Conversion privilege, Individual life insurance, Life settlement, Guaranteed insurability, Whole of life insurance, Pro rata cancellation, Policy lapse, Guaranteed renewable, Lapse, Convertible, Riders, Life insurance in force, Paid-up insurance, Viatical settlement, Lapsed policy, Viatical, Life insured, Family policy, Convertibility, Cash surrender value, Paid-up policy, Mutual life insurance company, Renewal premium, Dividend options, Policyowner, Nonforfeiture values, Permanent insurance, Reduced paid-up insurance, Whole life, Insurance policy, Convertible term assurance, Whole life insurance, Straight life insurance, Short rate cancellation, Life insurance company, Burial insurance, Term life insurance, Insurance coverage
A policy that does not entitle a policyholder to receive dividends from the surplus of an insurer.
A type of insurance policy that does not pay dividends to policyholders.
Policy that does not provide for payment of a dividend.
A life insurance policy which does not grant the policyowner the right to policyowner dividends.
A life insurance policy under which the company does not distribute to policyholders any part of its surplus. Premiums usually are lower than for comparable participating policies. Some nonparticipating policies have both a maximum premium and a current lower premium, which reflects anticipated experience more favorable than the company is willing to guarantee. The current premium may change from time to time for the entire block of business to which the policy belongs. See participating policy.
A life insurance policy in which the company does not distribute to policy holders any part of its surplus. Note should be taken that premiums for nonparticipating polices are usually lower than for comparable participating polices. Note that some nonparticipating polices have both a maximum premium and a current lower premium. The current premium reflects anticipated experience that is more favorable than the company is willing to guarantee, and it may be changed from time to time for the entire block of business to which the policy belongs. See also: Participating Policy.
A life insurance policy that does not grant the policy owner the right to policy dividends.
Life insurance policy from which the policyowner does not receive dividends from the insurance company's surplus.
A type of insurance policy under which the policyowner does not share in the insurance company's divisible surplus by receiving policy dividends. Also known as nonpar policy.
An insurance policy under which the policyholder does not share in the insurer's surplus.
A type of life insurance policy or annuity in which the policyowner does not receive policy dividends.
A type of insurance policy on which no dividends are paid to the policyowner, but it has a fixed premium that is often lower than that of a participating policy. ption Renewable Policy: The company may or may not renew the policy at each premium due date. The policy cannot be cancelled between such dates. articipating Party: A life insurance policy that distributes company surplus funds to policyholders as dividends.
General] an insurance or annuity policy that is not a PARTICIPATING POLICY
Life Insurance policy, generally issued only by mutual insurance companies, in which the company does not distribute to policyholders any part of its surplus. Premiums for nonparticipating polices are usually initially lower than for comparable participating polices, but premiums can be varied. The current premium reflects anticipated experience that is more favorable than the company is willing to guarantee, and it may be changed from time to time. (See also: Participating policy)
A life insurance policy for which the policyowner does not share in the insurer's surplus through policy dividends. Also called a nonpar policy.