closed insurance policy

closed insurance policy
Insurance contract, the terms and rates of which cannot be changed

Black's law dictionary. . 1990.

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  • closed insurance policy — Insurance contract, the terms and rates of which cannot be changed …   Black's law dictionary

  • policy — pol‧i‧cy [ˈpɒlsi ǁ ˈpɑː ] noun plural policies 1. [countable] also inˈsurance ˌpolicy INSURANCE a contract with an insurance company, or an official written statement giving all the details of such a contract: • She did not realize that her… …   Financial and business terms

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  • Stranger-Owned Life Insurance - STOLI — Insurance that is purchased with the intent of eventually transferring ownership to a third party, usually investors. Stranger owned life insurance (STOLI) is generally described as the purchase and subsequent sale of a newly issued life… …   Investment dictionary

  • Death spiral (insurance) — Death spiral is a term used to describe an insurance plan whose costs are rapidly increasing as a result of changes in the covered population. It is the result of adverse selection in insurance policies where lower risk policy holders choose to… …   Wikipedia

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  • Health insurance in the United States — The term health insurance is commonly used in the United States to describe any program that helps pay for medical expenses, whether through privately purchased insurance, social insurance or a non insurance social welfare program funded by the… …   Wikipedia

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