Interpolated Terminal Reserve Law and Legal Definition
Interpolated terminal reserve refers to the method by which the reserve on any life insurance policy between anniversaries are determined by valuing insurance policies for gift and death tax purposes, regardless of whether the policies are not paid at the time of their transfer. It is determined by making pro rata adjustment upward between the previous terminal reserve and the next terminal reserve. In case of certain term policies of long duration it is determined by making pro rata adjustment downward.
Legal Definition list
- Interpol Red Notice
- Interpol Notices
- Interpol
- Interpleader
- Interpersonal Communication
- Interpolated Terminal Reserve
- Interposition Doctrine
- Interpositioning
- Interpretatio Chartarum Benigne Facienda Est, Ut Res Magis Valeat Quam Pereat
- Interpretatio Fienda Est Ut Res Magis Valeat Quam Pereat
- Interpretatio Talis In Ambiguis Semper Fienda Est Ut Evitetur Inconveniens Et Absurdum
Related Legal Terms
- Active Guard and Reserve Duty
- Active Guard and Reserve(AGR)
- Administrative Governor [Federal Reserve System]
- Advisory Councils of Federal Reserve System
- Approved Terminal or Refinery [Internal Revenue]
- Average Posted Terminal Price
- Bad Debt Reserve
- Bank Insurance Fund Reserve Ratio
- Biosphere Reserve
- Capital Reserve Subsidy Amount
