Definitions for "Life Fund"
This terms relates to the pool of money that all the policyholders of a life insurance company have paid in to
This is a fund set up by an insurance company to which life insurance premiums of certain designated category of life policies issued are paid into. Claims and expenses occurring on these life polices are paid out of these funds. The company actuary does a valuation of the funds periodically before any profits or the company distributes dividends. The insurance company has a responsibility to exercise fairness in the way it manages the fund and the actuary will ensure that the fund is solvent at all times.
The pool of money, maintained by an insurance company, into which all its life insurance policyholders' premiums are paid and out of which all claims are paid.
a fundraising organization devoted to raising money to purchase life saving equipment for the Norwich Firefighters