MLchartDataset catalogue

Elective benefits

Term · Insurance and risk management · MLC-T-INS-001265

Benefits that a policyholder or plan member chooses to take instead of receiving automatically. In group programs they are the voluntary coverages, such as accidental death and dismemberment cover, that employees elect and pay for through payroll deduction. In annuity regulation the phrase covers optional contract features the owner elects, and the NAIC's Actuarial Guideline 33 sets reserving rules for annuity contracts that carry them.

Table 1. Record
IdentifierMLC-T-INS-001265
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-001265",
  "term": "Elective benefits",
  "field": "Insurance and risk management",
  "definition": "Benefits that a policyholder or plan member chooses to take instead of receiving automatically. In group programs they are the voluntary coverages, such as accidental death and dismemberment cover, that employees elect and pay for through payroll deduction. In annuity regulation the phrase covers optional contract features the owner elects, and the NAIC's Actuarial Guideline 33 sets reserving rules for annuity contracts that carry them.",
  "url": "https://mlchart.com/terminology/insurance/elective-benefits/"
}

Record 1,090 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.