Xcel Life Insurance 2025
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Terms in this set (433)
Actuarial a department that calculates policy
Department rates, reserves, and dividends
in the United States this is an insurer
Alien Insurer whos principal office and domiciled
location is outside the country
, an insurer who has received a
certificate of authority from a state's
Admitted Insurer department of insurance authorizing
them to conduct insurance business in
that state.
someone who represents themselves
Broker and the insured (i.e the client or
customer)
is an issuer established and owned by
a parent firm for the purpose of
Captive Insurer
insuring the parent firm's loss
exposure
a license issued to an insure by a
department of insurance (or
Certificate of
equivalent agency), which authorizes
Authority
that company to conduct insurance
business in that particular state
The claims department is responsible
Claims
for processing, investigating, and
Department
paying claims.
, Divisible surplus is the amount of
earnings paid to policy-owners as
dividends after the insurance
Divisible Surplus
company sets aside funds required to
cover reserves, operating expenses,
and general business.
an insurer with its principal or home
Domestic Insurer
office in a state where it is authorized
an insurer with its principal office or
domicile location in a state different
Foreign Insurer
from the state it is transacting
insurance business
Fraternal Benefit nonprofit benevolent organizations
Society that provide insurance to its members
these make up a specialized branch of
the industry, primarily providing
policies with small face amounts with
Industrial Insurer
weekly premiums. Other names for
this include home service or debt
insurers.
the transfer of risk through the
Insurance
pooling or accumulation of funds.
the customer receiving insurance
Insured
protection under an insurance policy
update|comprehensive questions
and verified answers (complete
solutions) ASSURED
SUCCESS|GRADE A+!!
Save
Terms in this set (433)
Actuarial a department that calculates policy
Department rates, reserves, and dividends
in the United States this is an insurer
Alien Insurer whos principal office and domiciled
location is outside the country
, an insurer who has received a
certificate of authority from a state's
Admitted Insurer department of insurance authorizing
them to conduct insurance business in
that state.
someone who represents themselves
Broker and the insured (i.e the client or
customer)
is an issuer established and owned by
a parent firm for the purpose of
Captive Insurer
insuring the parent firm's loss
exposure
a license issued to an insure by a
department of insurance (or
Certificate of
equivalent agency), which authorizes
Authority
that company to conduct insurance
business in that particular state
The claims department is responsible
Claims
for processing, investigating, and
Department
paying claims.
, Divisible surplus is the amount of
earnings paid to policy-owners as
dividends after the insurance
Divisible Surplus
company sets aside funds required to
cover reserves, operating expenses,
and general business.
an insurer with its principal or home
Domestic Insurer
office in a state where it is authorized
an insurer with its principal office or
domicile location in a state different
Foreign Insurer
from the state it is transacting
insurance business
Fraternal Benefit nonprofit benevolent organizations
Society that provide insurance to its members
these make up a specialized branch of
the industry, primarily providing
policies with small face amounts with
Industrial Insurer
weekly premiums. Other names for
this include home service or debt
insurers.
the transfer of risk through the
Insurance
pooling or accumulation of funds.
the customer receiving insurance
Insured
protection under an insurance policy
