life insurance business definition

life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

life insurance business means the business of effecting contracts of insurance upon human life, including any contract where by the payment of money is assured on death (expect death by accident only) or the happening of any contingency dependent on human life, and any contract which is subject to payment of premiums for a term dependent on human life and shall be deemed to include—

life insurance business means the business of effecting contracts of insurance upon human life, including any contract whereby the payment of money is assured on death (except death by accident only) or the happening of any contingency dependent on human life, and any contract

Examples of life insurance business in a sentence

• For further details, refer to Note 1(hh) Life Insurance Business.

• Sale of the Domestic Individual Life Insurance Business On October 1, 1998, the Company sold its domestic individual life insurance business to Lincoln for $1 billion in cash.

• In accordance with the requirements of Australian Accounting Standard AASB 1038 Life Insurance Business, we recognise the tax position of policyholders in our life company in income and reverse its impact in tax expense.

• Management's Discussion and Analysis of Financial Condition and Results of Operations (Continued) AETNA FINANCIAL SERVICES (CONTINUED) Sale of Domestic Individual Life Insurance Business On October 1, 1998, the Company sold its domestic individual life insurance business to Lincoln for $1 billion in cash.

• In prior periods, these amounts were offset in deriving non-interest income and operating expenses on a cash earnings basis; and • Policyholder tax recoveries: Income and tax amounts that are grossed up to comply with the AAS covering Life Insurance Business (policyholder tax recoveries) were reversed in deriving income and taxation expense on a cash earnings basis.

More Definitions of life insurance business

life insurance business. ’ means any activity conducted with the purpose of entering into or meeting insurance obligations under a life insurance policy;

life insurance business means insurance business of a class specified as life insurance business under this Act;

life insurance business means business of any of the following classes—

life insurance business means the business of assuming the obligations of an insurer under life policies, funeral policies or sinking fund policies;

life insurance business means the business of assuming the obligation of an insurer classified under Section 51 as transacting long term business;

life insurance business means the business of an insurer in effecting, issuing and carrying out life insurance;

life insurance business means the carrying on in India by a Company incorporated in India of a life insurance business including but not limited to Life and Annuity, Marriage and Birth, Linked Long Term, Permanent Health, Tontines, Capital Redemption, Pension Fund Management, Collective Insurance etc., Social Insurance;