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Definition of Non-participating Policy
A type of insurance policy or annuity in which the owner does not receive dividends.
Requirement that none of an order be executed unless all of it can be executed at the specified price.
An arrangement whereby a security issue is canceled if the underwriter is unable
Procedures followed by a firm in attempting to collect accounts receivables.
An established guide for the firm to determine the amount of money it will pay as dividends.
The use of government spending and taxing for the specific purpose of stabilizing the economy.
Actions taken by the Board of Governors of the Federal Reserve System to influence the
Under this translation method, monetary items (e.g. cash, accounts
Preferred stock whose holders must forgo dividend payments when the
Include such things as freight, insurance, passenger services, and travel.
Defined benefit pension plans that are not guaranteed by life insurance products. Related:
A shift in the yield curve in which yields do not change by the same
A tangible asset with unique physical properties, like a parcel of land, a mine, or a
Refer to goods and services produced and consumed domestically that are not close
A cost, such as depreciation, depletion, and amortization, that does not involve any cash outflow.
In a Treasury auction, bidding for a specific amount of securities at the price, whatever it
Nondiversifiability of human capital
The difficulty of diversifying one's human capital (the unique
Risk that cannot be eliminated by diversification.
Claims that cannot be easily bought and sold in the financial markets, such as those of
Without recourse, as in a non-recourse lease.
Not permitted, under the terms of indenture, to be redeemed.
Not permitted, under the terms of indenture, to be refundable.
nonmarket or firm-specific risk factors that can be eliminated by diversification. Also
A guaranteed investment contract where the policyholder is not guaranteed a crediting
The portion of total fees in a syndicated credit that go to the participating banks.
Perfect market view (of dividend policy)
Analysis of a decision on dividend policy, in a perfect capital
Policy asset allocation
A long-term asset allocation method, in which the investor seeks to assess an
Signaling view (on dividend policy)
The argument that dividend changes are important signals to investors
Tax differential view ( of dividend policy)
The view that shareholders prefer capital gains over dividends,
Traditional view (of dividend policy)
An argument that "within reason," investors prefer large dividends to
Variable life insurance policy
A whole life insurance policy that provides a death benefit dependent on the
A general term referring to period costs, such as selling, administration and financial expenses.
the fixed overhead volume variance;
a restriction in a linear programming
non-value-added (NVA) activity
an activity that increases the time spent on a product or service but that does not increase its worth or value to the customer
Procedures to collect and monitor receivables.
Standards set to determine the amount and nature of credit to extend to customers.
A monetary policy of matching wage and price increases with money supply increases so that the real money supply does not fall and push the economy into recession.
A policy designed to increase an economy's prosperity at the expense of another country's prosperity.
Decreasing inflation by immediately decreasing the money growth rate to a new, low rate. Contrast with gradualism.
Demand Management Policy
Fiscal or monetary policy designed to influence aggregate demand for goods and services.
A policy that is a conscious, considered response to each situation as it arises. Contrast with policy rule.
A change in government spending or taxing, designed to influence economic activity.
A policy designed to lower inflation without reducing aggregate demand. Wage/price controls are an example.
Actions taken by the central bank to change the supply of money and the interest rate and thereby affect economic activity.
Theory that anticipated policy has no effect on output.
A formula for determining policy. Contrast with discretionary policy.
Tax-Related Incomes Policy (TIP)
Tax incentives for labor and business to induce them to conform to wage/price guidelines.
Nonqualified Retirement Plan
A pension plan that does not follow ERISA and
Nonqualified Stock Option
A stock option not given any favorable tax treatment
A debt or equity security for which there is no posted price or bidand-
Revenues or gains and expenses or losses that are not expected to recur
Policy Acquisition Costs
Costs incurred by insurance companies in signing new policies, including expenditures on commissions and other selling expenses, promotion expenses, premium
A company’s stated goal for how soon a customer order will be
Any inventory item that does not match its original design
Nonsignificant part number
An identifying number assigned to a part that conveys
In October 1996 it was announced in the international news that scientists had finally located the link between cigarette smoking and lung cancer. In the early 1980's, some Canadian Life Insurance Companies had already started recognizing that non-smokers had a better life expectancy than smokers so commenced offering premium discounts for life insurance to new applicants who have been non-smokers for at least 12 months before applying for coverage. Today, most life insurance companies offer these discounts.
This is the maximum value of a policy that an insurance company will issue without the applicant taking a medical examination, although medical questions are invariably asked during the application process. When a non-medical issue is made through group insurance, in most cases, medical data is not requested at all.
This is an administrative fee which is part of most life insurance policies. It ranges from about $40 to as much as $100 per year per policy. It is not a separate fee. It is incorporated in the regular monthly, quarterly, semi-annual or annual payment that you make for your policy. Knowing about this hidden fee is important because some insurance companies offer a policy fee discount on additional policies purchased under certain conditions. Sometimes they reduce the policy fee or waive it altogether on one or more additional policies purchased at the same time and billed to the same address. The rules are slightly different depending on the insurance company. There could be enormous savings if several people in the same family or business were intending to purchase coverage at the same time.
This is the person who owns a life insurance policy. This is usually the insured person, but it may also be a relative of the insured, a partnership or a corporation. There are instances in marriage breakup (or relationship breakup with dependent children) where appropriate life insurance on the support provider, owned and paid for by the ex-spouse receiving the support is an acceptable method of ensuring future security.
A course of action adopted by a financial institution to guide and usually determine present and future decisions in the light of given conditions.
NSF (non-sufficient funds)
This appears on your statement if there are insufficient funds in your account to cover a cheque that you have written or a pre-authorized payment that you have already arranged. You will be charged a service fee for non-sufficient funds.
This policy governs Canada Life's actions regarding distribution of dividends to policyholders. It's goal is to achieve a dividend distribution that is equitable and timely, and which gives full recognition of the need to ensure the ongoing solidity of the company. It also specifies that distribution to individual policyholders must be equitable between dividend classes and policyholder generations, and among policyholders within any class.
Insurance Policy (Credit Insurance)
A policy under which the insurance company promises to pay a benefit of the person who is insured.
Joint Policy Life
One insurance policy that covers two lives, and generally provides for payment at the time of the first insured's death. It could also be structured to pay on second death basis for estate planning purposes.
A policy offers the potential of sharing in the success of an insurance company through the receipt of dividends.
A written document that serves as evidence of insurance coverage and contains pertinent information about the benefits, coverage and owner, as well as its associated directives and obligations.
Yearly event linked to a policy. Usually the date issued.
Date on which the insurance company assumes responsibilities for the obligations outlined in a policy.
Administrative charge included in a policy Premium.
Period between two policy anniversaries.
The person who owns and holds all rights under the policy, including the power to name and change beneficiaries, make a policy loan, assign the policy to a financial institution as collateral for a loan, withdraw funds or surrender the policy.
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