legal reserve life insurance company
A legal reserve life insurance company is a life insurer that maintains reserves at least equal to the minimum prescribed by law or regulation in the state in which it does business.
legal reserve life insurance company
A legal reserve life insurance company is a life insurer that maintains reserves at least equal to the minimum prescribed by law or regulation in the state in which it does business.
Additional Information
These reserves are based on actuarial formulas and are designed to allow the company to meet all its financial obligations. Conversely, an assessment life insurer is permitted to access its policyholders in the event of financial problems.
