What is the definition of Manual?
A manual, in the insurance industry, refers to the book that provides relevant information and rules for underwriting policies, classifying risks and providing a comprehensive list of premium rates that will be used when the underwriter writes a policy.
The insurance manual will provide rules for underwriting policies for a certain line of insurance and classification of risk. In the case of the life insurance manual, the underwriter will find the values and premiums given for every $1000 of coverage, the usual policy fee, the premium mode factor to be used, as well as how much extended term insurance, cash value and paid-up insurance will be at the end of the policy year.
The manual also has a glossary that gives the definitions of the terms used in the manual.
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- Marine Insurance
- Maturity Date
- McCarran-Ferguson Act
- Mediation
- Medicaid
- Medical Information Bureau
- Medical Malpractice Insurance
- Medical Payments Insurance
- Medical Utilization Review
- Medicare
- Managed Care
- Malpractice Insurance
- L-Share Variable Annuity
- Loss Reserves
- Loss Ratio
- Loss of Use
- Loss Costs
- Loss Adjustment Expenses
- Loss
- Long-Term Disability Income Insurance