flexible premium policy or annuity: A life insurance policy or annuity under which the policyholder or contract holder may vary the amounts or timing of premium payments.
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flexible premium deferred annuity: An annuity contract that permits varying premium payments from year to year and is often used for individual retirement accounts.
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flat schedule: A type of group insurance schedule under which everyone is insured for the same benefits regardless of salary, position, or other circumstances.
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fixed-income assets: Bonds, preferred stock, mortgage loans on real estate, and policy loans.
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fixed charge coverage: The ratio of the sum of pretax operating income plus interest expense to interest expense.
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financial strength: An insurer’s financial security as determined by an independent ratings company. The ratings organization examines the insurer’s ability to pay claims under the terms of its insurance policies and contracts.
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financial leverage: The ratio of debt and debt-like instruments to capitalization
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financial intermediation: The use of debt to finance investment in high-quality assets in the transaction; both the investments and supporting debt are duration matched and cash flow matched.
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family policy: A life insurance policy providing insurance on all or several family members in one contract, generally whole life insurance on the principal breadwinner and small amounts of term insurance on the other spouse and children, including those born after the policy is issued.
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family care expenses: A employee on disability who has family care responsibilities may need extra help when trying to return to work. This type of benefit provides an incentive to the employee who is taking part in a rehabilitation program by allowing credit or partial reimbursement for certain expenses incurred for family care. This is generally an optional benefit under most long term disability policies.
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