Legal Reserve Company (Health Care) Law and Legal Definition
Legal reserve company means a commercial life insurance company that maintains policy reserves according to the standards established by the insurance laws of various states. Such companies adopt legal reserve system as against the fraternal life insurance companies, many of which operate on a legal reserve basis. They issue contracts without imposing contingent liability on the policyholder.
Legal Definition list
Related Legal Terms
- Accelerated Benefits (Health Care)
- Accompanying Relative [Immigration]
- Accompanying Spouse and Dependents
- Accompanying the Armed Forces outside the United States
- Accompanying the Federal Government Outside the United States
- Accompanying Visa
- Accumulation Value (Health Care)
- Active Guard and Reserve Duty
- Active Guard and Reserve(AGR)
- Actual Age (Health Care)
