Examlex
What is repositioning? Give an example.
Group-Term Life Insurance
A type of life insurance where coverage is provided to a group of people by an employer or association, often at a lower cost than individual policies.
Taxable
Refers to income or transactions that are subject to tax by federal, state, or local taxing authorities.
Premiums
Payments made periodically to an insurance company by policyholders for coverage or to maintain a policy.
Income Recognition
The accounting principle that income should be reported in the fiscal period it is earned, regardless of when it is received.
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