Glossary & Financial Terms: ‘L’

Laddering
Lapse
Lapse Ratio
Lapsed Policy
Large Cap U.S. Stocks
Last In First Out (LIFO)
Last To Die Coverage:
Layer
Left on Deposit to Accumulate with Interest
Legal Reserve
Legal Reserve Life Insurance Company
Legislative Risk
Lehman Brothers' Aggregate Bond Index
Lender Captive Reinsurance
Letter of Intent (LOI)
Level Premium
Level Premium (Life Insurance)
Level Premium Insurance
Leverage
Levy
Liabilities
Liability Insurance
Lien
Life Annuity
Life Annuity Certain
Life Estate
Life Estate Ownership
Life Expectancy
Life Income Option
Life Insurance
Life Insurance in Force
Life Insurance Marketing Research Association (LIMRA)
Life Insurance Trust
Life Insurance Underwriting
Life Insurance Uses
Life Interest
Life Office Management Association (LOMA)
Life Underwriter Training Council (LUTCF)
Lifetime Disability Benefit
Lifetime Gift
Lifetime Income
Limit
Limitations
Limited Health Insurance
Limited Liability Corporation (L.L.C.)
Limited Partnerships
Limited Payment Life Insurance
Limited Policy
Liquidity
Liquidity Margin of Safety
Liquidity Ratio
Liquidity Risk
Living Benefits
Living Benefits Provision
Living Trust
Living Trust (Inter Vivos)
Living Will
Lloyd's of London
Load
Loan (Policy Loan)
LOB
Long Position
Long Term Care
Long Term Care Insurance
Long Term Disability Policies
Long-Term Care (LTC)
Long-Term Care Insurance
Long-Term Coverage
Long-Term Disability Income Insurance (LTD)
Long-Term Disability Insurance
Look-Back Period
Loss Adjustment Expenses
Loss Control
Loss Frequency Method
Loss Mitigation
Loss of Income
Loss of Use
Loss Payee
Loss Ratio
Loss Reserve
Losses Incurred (Pure Losses)
Low-Load Fund
Lump Sum
Lump Sum Option