non-participating insurance: Insurance on which no dividends are paid.
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non-medical limit: The maximum face value of a policy that a given company will issue without the applicant taking a medical examination.
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non-forfeiture values: The value of the policy if canceled, either in cash or in another form of insurance. Also available to the policyholder if required premium payments are not paid.
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non-forfeiture option: One of the choices available if the policyholder discontinues payments on a policy with a cash value. This may be taken in cash as extended term insurance or as reduced paid-up insurance.
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no-fault insurance: No-fault insurance is designed to pay for the financial losses associated with minor accidents as quickly as possible. Under a no-fault system, which varies from state to state, your own insurance company will pay medical expenses and lost wages caused by an accident, regardless of who was at fault. In the long run, this system is designed to save time and money that would otherwise be spent litigating petty claims. Usually, that means less expensive auto insurance. In exchange, no-fault systems limit the right to sue under certain circumstances. Not every state has a no-fault system and they vary from state to state. In Michigan, there is no limit to the amount that you can collect under no-fault. In other states, you may only be able to collect $5,000. Once no-fault runs out, motorists can turn to their uninsured motorist/underinsured motorist coverage to make up the difference.
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net reserves/gross reserves: Net reserves for life and accident & health policies as a percentage of gross reserves for life and accident & health policies.
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net premiums/gross premiums: Net premiums incurred as a percentage of gross premiums incurred
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net premiums written: Total premiums written minus premiums ceded.
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net operating income: Income after dividends and taxes (excluding realized capital gains).
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net investment income ratio: Net investment income divided by net premiums earned.
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