Definitions for "IN-FORCE BUSINESS"
Insurance on which the premiums are being paid or have been fully paid. In other words the portfolio of policies active at a given point in time. In life assurance, the "value of business in-force" (VIF) is the discounted value of the profits expected to accrue to shareholders on in-force business.
Cases on which the premiums are paid or are being paid as part of a life insurance company's business portfolio.
Policies that are currently active and whose premiums have been paid.