Canadian Maple Leaf Licensing Info: Alberta Mortgage #MW-0511205,
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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Ultimate Mortality Table — Uniform Consumer Credit Code
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Uniform Resource LocatorUniversity of Winnipeg
ultimate mortality tableDefinition
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 insuranceDefinition
Insurance used to cover different types of property in a single policy.
umbrella mortgageDefinition
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 investmentsDefinition
Investments in assets made by an insurance company where they have no control over the assets.
unallocated benefitDefinition
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 insuranceDefinition
A fraud where a scammer sells a victim an insurance policy that doesn't exist.
underinsuranceDefinition
When the amount of insurance coverage on an asset is less than the asset's full value.
underinsured motorist coverageDefinition
Auto insurance that covers damages when the other driver in a collision is at fault but does not have sufficient insurance coverage.
underlying mortality assumptionDefinition
A measurement of death rates that is used to estimate pension obligations and insurance premiums.
underlying retentionDefinition
The liability an insurance company still retains after ceding liability to a reinsurer.
underpayment penaltyDefinition
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
underwriterDefinition
An entity that issues and distributes financial products including equity capital, credit, mortgages, and insurance.
underwriters associationDefinition
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 expensesDefinition
The expenses accumulated by an insurance company while underwriting a product.
underwriting guideDefinition
The rules and guidelines an underwriter must follow while writing policies.
underwriting incomeDefinition
The income earned by an insurer from underwriting in a certain amount of time.
underwriting riskDefinition
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 incomeDefinition
Income such as interest, dividends, capital gains or rents, as opposed to earned income, such as wages, tips and salaries.
unearned premiumDefinition
Premiums that have not yet been collected from an insurance policy.
unearned premium reserve (UPR) — Acronym
unemployment rateDefinition
The percentage of the labour force that is not employed but currently seeking work.
unfair claims practiceDefinition
The act of an insurance company avoiding or reducing valid insurance claims.
uniform consumer credit code (UCCC) — Acronym
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Ultimate Mortality Table — Uniform Consumer Credit Code
  Next Page
Uniform Resource LocatorUniversity 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
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