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40 Claim Costs and Liabilities for Future Policy Benefits

ASC 944-40-20 Glossary

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Accident YearAccumulation PhaseAcquisition CostsAnnuitizationBenefit PeriodBlock of New Insurance ContractsCarrying AmountCash Surrender ValueCeding EntityClaimClaim Adjustment ExpensesContract RateCoverageDividend FundDividend Fund Interest RateEnhanced-Crediting-Rate BonusFair ValueFinancial Guarantee Insurance ContractFinancial Guarantee Reinsurance ContractGeneral AccountGross PremiumGuaranteed Interest RateGuaranteed Minimum Accumulation BenefitGuaranteed Minimum Income BenefitGuaranteed Minimum Withdrawal BenefitHealth Insurance ClaimsImmediate BonusIn ForceIncurred-but-Not-Reported ClaimsInvestment ContractsInvestment YieldLapse RateLiability for Claim Adjustment ExpensesLiability for Future Policy BenefitsLiability for Unpaid ClaimsLimited-Payment ContractsLock-In ConceptMaintenance CostsMarket ParticipantsMarket Risk BenefitMarket Value AnnuityMinimum Guaranteed Death BenefitMorbidityMortalityMortality RiskMortgage Guaranty Insurance EntityNet Amount at Risk (Relating to Variable Annuity Contracts)Net Level Premium ReserveNet PremiumsNonforfeiture BenefitsNot-for-Profit EntityOrderly TransactionPayout PhasePersistencyPersistency BonusPolicy Account BalanceProbablePublic Business EntityReadily Determinable Fair ValueReinsuranceReinsurance RecoverableReinsurerRelated PartiesReset DateRisk of Adverse DeviationRisk of AntiselectionSales InducementsSalvageSecurities and Exchange Commission (SEC) FilerSecuritySeparate AccountSubrogationSurrender ChargeSurrender ChargesTerminal DividendsTerminationTermination RateTwo-Tier AnnuityWrap