Definitions
Term Definition
Statutory Accounting Principles - (SAP)
More conservative standards than under GAAP accounting rules,...See Full Definition
Steering Restraint
An anti-theft device that makes it difficult for...See Full Definition
Stock Insurance Company
An insurance company owned by its stockholders who...See Full Definition
Straight Life Annuity
A type of life annuity contract that provides...See Full Definition
Structured Settlement
Legal agreement to pay a designated person, usually...See Full Definition
Student-Away Credit
Credit may be given if a driver in...See Full Definition
Subrogation
The process of recovering some or all of...See Full Definition
Substandard Risk Class
In insurance underwriting, the group of proposed insureds...See Full Definition
Suicide Clause
A life insurance policy will not pay a...See Full Definition
Suicide Exclusion
A life insurance policy provision stating that policy...See Full Definition
Superfund Law
A federal law enacted in 1980 to initiate...See Full Definition
Supplemental Coverage
An amount of coverage that adds to the...See Full Definition
Supplemental Death Benefit
An amount paid automatically if the insured dies...See Full Definition
Surety Bond
A contract guaranteeing the performance of a specific...See Full Definition
Surplus Insurance Reserves
The remainder after an insurer's liabilities are subtracted...See Full Definition
