Insurances in effect at any given time.
Insurance Encyclopedia
Current settlement option rates
These rates reflect the interest rates currently earned by the insurance company.
Current unit method
An accrued benefits valuation method in which the actuarial liability is based on earnings at the valuation date. The standard contribution rate is that necessary to cover the cost of benefits that will accrue in the control period following the valuation date by reference to earnings projected to the end of that period and non-discretionary revaluation thereafter.
Current year
Present insurance plan contract year.
Currently insured status
Under Old Age, Survivors, and Disability Health Insurance, this is a status with less requirements to obtain than a status of fully insured. This status also allows the insured’s dependents to survivor benefits in the case of the insured’s death.
Curriculum vitae
Summary or résumé that documents an individual’s credentials, education, work experience, special accomplishments, and professional activities.
Curtailment
Amendment to a pension plan that reduces the plan’s benefits or employer’s contributions. Curtailment types include a reduction of expected years of future service of present employees and elimination of accrual of defined benefits for future services of a large number of employees.
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UK: Cover under travel insurances to compensate for the curtailment of the trip due to specified causes (e.g. injury to the policyholder or close relative).
Curtain Wall
Exterior nonbearing wall more than one story in height, usually supported by a structural frame to protect it from weather, sound or Fire. In multi-story buildings where such non-bearing walls are one story in height and supported at each floor level, they are known as panel walls.
Curtate annuity
See: Non-Apportionable Annuity.
Curve fitting
a method of claims reserving that uses the deterioration that has already occurred in business written in the year in question to forecast how it will continue, by fitting a standard type of curve to the pattern of deterioration to date, and using the fitted curve to predict the final loss (contrast with chain ladder, which uses the experience of older years to predict what will happen to newer years).