The insured keeps the contracted policy premium in a general account and uses it to finance day-to-day business. The General Account does not guarantee a specific policy and instead handles all funds in their entirety.
- Insurers keep the premiums received in general accounts.
- The account is considered an investment asset and is allocated accordingly.
- If, like the ■■■■■■■■■ disaster or a major wildfire, policyholders often have to pay large sums of money, public accounts invest in low-risk companies.
All premiums are credited to the general account of the insurance company. Therefore, the buyer is not a small but independent risk from the insurance company.
Literal Meanings of General Account
Meanings of General:
An army commander or a high-ranking military officer.
The general public.
It affects or relates to all or most people, places or things.
Add or add a main feature or element to something and generally ignore exceptions.
Chief or Director.
Sentences of General
There is a strong connection between the military commander and the generals and officers who report it directly.
Books for public use
General introduction to this topic
A general manager
Synonyms of General
traditionalist, unspecific, inexact, public, basic, sweeping, conventional, loose, imprecise, rough, approximate, non-specific, indefinite, mainstream, accepted, rife, hazy, woolly, fuzzy, orthodox, ill-defined, wide, popular
Meanings of Account:
See or see yourself in a certain way.
Records or reports of financial income and expenses related to a particular period or purpose.
An agreement in which an organization will hold funds on behalf of a customer or provide goods or services to a customer on credit.
An agreement that gives a user personal access to a computer, website or application by entering their username and password in person.
Sentences of Account
Detailed report obtained
He doesn't care about money
Synonyms of Account
think of as, financial statement, exposition, balance sheet, results, view as, momentousness, note, see as, rendition, concern, ledger, journal, report, explanation, recital, statement, gravity, bank account, portrayal, look on as, significance, communiqué, moment, rate, weight, weightiness