Cost accounting method of pricing manufactured goods based on the product’s total cost over its life cycle. A comparatively lower upfront cost occurs from this practice. Many contend that future […]

Freehold estate while the beneficiary or tenant lives. Terminates at the beneficiary’s death. Not a legal estate , so the beneficiary cannot sell the property. It is only an equitable […]

Per the mortality table being used as a reference, the average amount of years remaining in a person’s life.

Term life insurance with terms for the insured’s expected remaining years of life. Contrast to ordinary life insurance policy , typically having a set age, like 65 years of age, […]

a phrase that means life before birth where the foetus is in its 5th or 6th month and is possible to live after birth.

Even if the principal amount is exhausted this settlement agreement’s life-time option continues paying the beneficiary in installments .

Regular payment of a certain sum for the life of the annuitant guaranteed by this annuity. Payments continue to a designated beneficiary until the end of a set period in […]

An insurance policy purchased by a person to pay their benificiaries upon their death.

Upon untimely death of its policy holder, the insured, a financial intermediary as the insurer, shares the financial risk .

Establishes a life insurance policy ‘s guaranteed cash surrender value by an index shown to potential insureds. Interest accumulates on any applicable dividends calculated at 5 percent. The index shows […]

Contract between the entity buying the policy, as the insured or policy holder, and a life insurance company , as the insurer.

At a price greater that the listed cash-surrender value and for less than the policy’s face value, a policy holder sells a life insurance policy to investors.

Irrevocable trust built during a trustor’s lifetime of a trustor to keep its proceeds from being taxed upon his or her death and to hold this insurance policy as trust […]

A life insurers organization existing as an information source between these insurers and as a management and management issues exchange.

the term given to the interest in property that lasts for a person’s life time.

the term that applies to the period of time that a writ is effective.

an expression that means a person will not ne placed in jeopardy that is a danger to life or limb .

In order to pay up a policy, at a given age premium payments stop, even though the life insurance plan covers the insured for his or her lifetime.

an insurance policy that will pay a sum of money when the insured person dies.

An life insurance policy that is canceled by the insurer.

Health, safety, sustenance, protection, and a means of escape, survival, and recovery of personnel is how this application of scientific knowledge ties into critical human factors.

An entity holding a property as a life estate . Also known as tenant for life .

To assist with resource allocation planning to various projects, life cycle theory is applied to project planning , projections, and decisions.

Life-span projected Item. A set lifespan for an item, either as time, like 1,000 hours, or as usage, like 100,000 miles, stated by its manufacturer or vendor.

The way one lives is called one’s lifestyle. It is comprised of how the entity copes with physical, psychological , social, and economic environments on a day-to-day basis. A way […]