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GLOSSARY
Canadian Financial, Real Estate and Mortgage Glossary
Currently Displayed — Page 1 Ultimate Mortality Table — Uniform Consumer Credit Code |
Next Page Uniform Resource Locator — University of Winnipeg |
- ultimate mortality table — Definition
- A mortality table that does not include information from people who have been approved for life insurance recently.
- ultimate net loss (UNL) — Definition
- The final sum that an insurer is required to pay a policyholder after they have filed a valid claim.
- ultra high net worth individual (UHNWI) — Acronym
- umbrella insurance — Definition
- Insurance used to cover different types of property in a single policy.
- umbrella mortgage — Definition
- A specific arrangement where one document encompasses one or more already existing mortgages registered on the same property. The mortgagee is responsible for remission of payment(s), to lender(s), while the mortgagor makes one payment to the mortgagee. Also referred to as a wraparound.
- unaffiliated investments — Definition
- Investments in assets made by an insurance company where they have no control over the assets.
- unallocated benefit — Definition
- A requirement for health insurance policyholders to pay reasonable hospital expenses out of pocket to a certain limit.
- unallocated loss adjustment expense (ULAE) — Acronym
- unauthorized insurance — Definition
- A fraud where a scammer sells a victim an insurance policy that doesn't exist.
- underinsurance — Definition
- When the amount of insurance coverage on an asset is less than the asset's full value.
- underinsured motorist coverage — Definition
- Auto insurance that covers damages when the other driver in a collision is at fault but does not have sufficient insurance coverage.
- underlying mortality assumption — Definition
- A measurement of death rates that is used to estimate pension obligations and insurance premiums.
- underlying retention — Definition
- The liability an insurance company still retains after ceding liability to a reinsurer.
- underpayment penalty — Definition
- A penalty for not paying enough total estimated tax and withholding. You can avoid underpayment penalties by paying a percentage amount of last year's tax due or of the current year's expected tax due. You may pay the taxes in combined estimated and withholding tax payments.
- Understanding the Small Business Environment (USBE) — Canada
- underwriter — Definition
- An entity that issues and distributes financial products including equity capital, credit, mortgages, and insurance.
- underwriters association — Definition
- A group of underwriters in a specific field who join together to maintain professional standards.
- Underwriters Association of Toronto (UAT) — Company, Toronto, Ontario, Canada
- underwriting (UW) — Definition, Important
- Assessing individuals for eligibility and issuing and distributing a financial product such as insurance, equity capital or credit.
- underwriting expenses — Definition
- The expenses accumulated by an insurance company while underwriting a product.
- underwriting guide — Definition
- The rules and guidelines an underwriter must follow while writing policies.
- underwriting income — Definition
- The income earned by an insurer from underwriting in a certain amount of time.
- underwriting risk — Definition
- The total amount of risk an entity takes on from underwriting something.
- undistributed net investment income (UNII) — Acronym
- Total earnings on a mutual fund including any income derived from interest on dividends that have not yet been distributed to shareholders.
- ➥ Closed-end mutual funds.
- unearned income — Definition
- Income such as interest, dividends, capital gains or rents, as opposed to earned income, such as wages, tips and salaries.
- unearned premium — Definition
- Premiums that have not yet been collected from an insurance policy.
- unearned premium reserve (UPR) — Acronym
- unemployment rate — Definition
- The percentage of the labour force that is not employed but currently seeking work.
- unfair claims practice — Definition
- The act of an insurance company avoiding or reducing valid insurance claims.
- uniform consumer credit code (UCCC) — Acronym
Currently Displayed — Page 1 Ultimate Mortality Table — Uniform Consumer Credit Code |
Next Page Uniform Resource Locator — University of Winnipeg |
Search the Glossary
Index for The Letter 'u'
Page 1: | Ultimate Mortality Table — |
Uniform Consumer Credit Code | |
Page 2: | Uniform Resource Locator — |
University of Winnipeg | |
Page 3: | Unsecured Claim — |
Utilization |
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