Definitions
Term Definition
L-Class Variable Annuities
A form of variable annuity contract usually with...See Full Definition
Laddering
A technique that consists of staggering the maturity...See Full Definition
Lapse
The termination of an insurance policy because a...See Full Definition
Law Coverage
Endorsement to a property policy, including homeowners, that...See Full Definition
Law of Large Numbers
The theory of probability on which the business...See Full Definition
Level Premium Policies
Premiums paid for a life insurance policy or...See Full Definition
Liability
A legal obligation to perform or not perform...See Full Definition
Liability Coverage
Insurance to cover damages that the insured is...See Full Definition
Lien Holder
A person or other entity (i.e. a corporation...See Full Definition
Life Annuity
A type of annuity contract that guarantees periodic...See Full Definition
Life Annuity with Period Certain
A type of annuity contract that guarantees periodic...See Full Definition
Life Income Annuity with Refund
A type of annuity contract that guarantees specified...See Full Definition
Limit of Liability
The maximum dollar amount your insurance carrier will...See Full Definition
Limits
The amount of insurance coverage purchased. The...See Full Definition
Limits of Insurance
Maximum amount of insurance that can be paid...See Full Definition
