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The NAIC (National Association of Insurance Commissioners) does not mandate a specific loss ratio for individual long-term care policies. However, insurance regulators may examine a company's loss ratio to ensure it remains financially stable and capable of meeting its obligations to policyholders.

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1y ago

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What is a growth span?

A growth span refers to the period of time during which an individual experiences a significant increase in growth, development, or progress in a particular aspect of their life, such as physical, mental, emotional, or career growth. It can vary in length depending on the individual and the specific area of growth being considered.


What methods for estimating retirement income needs assumes retirement expenses will be some fixed proportion of your preretirement needs?

The replacement ratio method assumes that retirees will need a certain percentage of their preretirement income to maintain their standard of living in retirement. Typically, 70-80% of preretirement income is suggested for this method. It is based on the assumption that some expenses may decrease in retirement, such as commuting costs, but it doesn't consider individual circumstances, like healthcare expenses or lifestyle choices.


What Is Old Age Dependency ratio?

Old age dependency ratio is a demographic indicator that measures the number of elderly people (usually age 65 and older) in a population compared to the working-age population (usually age 15-64). It is used to assess the potential economic burden placed on the working-age population to support the elderly. A higher old-age dependency ratio indicates a larger proportion of elderly individuals relative to the working-age population.


What does stokiometric mean?

Stoichiometric, or chemically correct, air fuel ratio A stioichiometric mixture of air and fuel is one that contains just sufficient oxygen for the complete combustion of the fuel. A mixture which has an excess of air is termed a weak mixture, and one which has a deficiency of air is termed a rich mixture. The percentage of excess air is given by the following, Percentage excess air (Acutal A/F ratio - Stoichiometric A/F ratio)/(Stoichiometric A/F ratio) (where A = Air and F = Fuel) For gaseious fuels the ratios are expressed by Volume and for Solid and Liquid Fuels the Ratio are expressed by Mass. The equation above gives a positive result when the mixture is weak, and a negative result when the mixture is rich. For boiler plant the mixture is usually greater than 20% weak; for gas turbines it can be as much as 30% weak. Petrol engines have to meet various conditions of load and speed, and operate over a wide range mixture strengths.


Which of the following methods for estimating retirement income needs assumes retirement expenses will be some fixed proportion of your preretirement needs?

The replacement ratio method assumes retirement expenses will be a fixed percentage of preretirement needs, typically ranging from 70-80%. It is calculated by dividing desired retirement income by preretirement income.

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What is the meaning of term claim ratio?

I'm not familiar with the term "term claim ratio." Did you mean "claim loss ratio?" If so, a claim loss ratio is the ratio between the amount of claims paid to the amount of policy premium. This can be done on either an individual insured basis, or on an entire "book" of business. Hope this helps.


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What is the current legal reserve ratio?

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