For collectively bargained single employer plans, the bargaining agreement's grievance and arbitration procedure may double as a claims procedure.

Arithmetic Mean (as defined by the U.S. DOL) is the rate of wages to be determined, to the extent feasible, by adding the wages paid to workers similarly employed in the area of intended employment an [..]

An early method of funding life insurance where members of the plan were charged in advance for the amount of money that the administrators estimated would be needed to pay each year's death clai [..]

An asset is anything of value that is owned by an organization or an individual. Examples are cash, computer equipment, and investments. Assets can be any percentage of real property or of personal pr [..]

A transaction whereby the purchaser only acquires title to certain identified assets and or liabilities of the seller, with no obligation for any non-identified liabilities or assets. (A buyer may, fo [..]

A method of calculating that imitates the way in which the assets of a particular block of policies should grow, depending on certain assumptions about future interest rates, morbidity, mortality, exp [..]

The process of investing, purchasing, selling and otherwise adjusting an insurance company's asset holdings so that cash is available when it is needed to cover the company's liabilities.

The party to whom all or certain contractual rights are transferred under an absolute or collateral assignment.

Several definitions: 1) The transfer of ownership rights in a life insurance policy or other type of contract from one party to another. (2) The document that causes the transfer of ownership rights t [..]

An authorization directing an insurer to make payment directly to a provider of benefits, such as a physician or dentist, rather than to the insured.