G

Fundamentally Accepted Accounting Standards (GAAP) – an enthusiastic aggregate of accounting standards, standards and greatest practices toward preparation away from financial comments making it possible for to possess feel for the revealing.

Gramm-Leach Bliley Work (GLBA) – work, repealing Mug-Steagal Work of 1933, lets consolidation out of commercial finance companies, money institutions and you will insurance companies. It allows financial functions companies so you can blend and you may take part in an effective brand of new business products, together with insurance rates, when you are attempting to target brand new regulatory items increased by such as for example combinations.

Goodwill – the difference between the expense of obtaining the organization additionally the revealing entity’s share of your own guide value of the newest received organization.

Gross Superior – the online premium getting insurance policies in addition to commissions, performing and you may miscellaneous commissions. Forever insurance coverage, here is the advanced and dividends.

Class Crash and Health – publicity written for the a group base (age.grams., teams of 1 company and their dependents) that will pay booked benefits or scientific costs as a result of state, personal injury or unintentional demise. Excludes number due to uninsured crashes and fitness agreements together with uninsured part of partly covered crash and you can health arrangements.

Group Annuities – Deferred Low- Variable and you will Changeable – an annuity price that provides an accumulation of based on one another (1) fund you to definitely gather predicated on an ensured crediting rates or additional interest rate placed on appointed considerations, and you can (2) funds in which the accumulation vary in accordance with the speed of return of hidden funding collection picked of the policyholder. The latest contract offers up the brand new initiation out of repayments from the specific designated future time.

Category Annuities – Deferred Varying – an annuity price giving an accumulation of situated money where the accumulation may differ in accordance with the rate regarding come back of the fundamental investment profile picked by the policyholder. So it annuity deal offers up the fresh initiation regarding repayments in the particular designated upcoming go out.

Category Borrowing – Lives – contracts bought in connection with mortgage/credit purchases or other borrowing purchases, that don’t go beyond a stated duration and you will/or amount and provide insurance coverage shelter facing demise

Classification Annuities – Instant Non-Varying and Varying – a keen annuity bargain that provide an accumulation of according to both (1) funds one to accumulate based on an ensured crediting interest rates otherwise even more rate of interest placed on appointed factors, and you can (2) fund where in actuality the buildup differ according to the rate off come back of one’s root capital collection chosen from the policyholder. Brand new bargain offers up the new initiation out-of repayments within specific period that can vary, however the annuity profits need begin within this thirteen days.

Group Annuities – Instantaneous Varying – an annuity package that provide into the very first percentage of one’s annuity after brand new repaired interval from percentage shortly after get. The fresh period can differ, but the annuity profits need initiate within this 13 months. Extent may differ towards the property value equities (separate account) ordered while the expenditures because of the insurers.

Classification Annuity – an agreement delivering money to possess a specified time frame, otherwise time of life for someone otherwise persons based to work for a small grouping of employees.

Group Fitness – health insurance granted so you’re able to companies, connectivity, trusts, or any other teams level group otherwise players and/otherwise the dependents, in order to who a certification out of exposure is given.

Class Password – an alternative 3 to 5 digit amount assigned because of the NAIC to understand those individuals companies that are included in a more impressive classification of insurers.

Category Wellness Groups – Wellness Maintenance (HMO) – plans around and that an enrollee pays a membership repaired commission ahead in return for numerous total wellness care and attention attributes with the HMO’s recognized business for the a specified solution town.