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| Denotes direct government obligations of the United States government. This includes debt instruments such as Treasury bills,
bonds, and notes as well as savings bonds. |
| Descriptive of the insured's mortality experience after the select period, when mortality increases due to health
deterioration. |
| An employee of a life insurance company who is trained to evaluate the insurability and determine the classification of
persons applying for insurance protection. |
| The process of selecting applicants for insurance and classifying them according to their degrees of insurability so that the
appropriate premium rates may be charged. The process includes rejection of unacceptable risks. |
| Classification given to an individual based on personal and family health history. |
| The amount of money which an insurance company gains or loses as a result of its insurance operations. It excludes investment
transactions and federal income taxes. |
| The portion of a premium that a company has collected but has yet to earn because the policy still has unexpired time to run.
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| A rating structure in which one premium applies to all insured, regardless of age, sex, or occupation. |
| A contract having promises by one party only. |
| One not acceptable for insurance due to excessive risk. |
| Rates that are used for both male and females. |
| States that allow the use of Unisex rates (as of August 30, 2001 only Montana). |
| A flexible premium life insurance policy under which the policyholder may change the death benefit from time to time (with
satisfactory evidence of insurability for increases) and vary the amount or timing of premium payments. Premiums (less expense charges) are credited to a
policy account from which mortality charges are deducted and to which interest is credited at varying rates. |
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