- Jet screening
- The process of evaluating simple applications fro insurance as quickly as possible according to strictly defined underwriting criteria.
- Joint and survivor annuity
- An annuity under which a series of payments is made to two or more annuitants. The annuity payments continue until both or all of the annuitants have died. Also called a joint and last survivorship annuity.
- Joint and survivorship option
- A life insurance settlement option under which payments will be made to two or more payees. These payments will continue until both or all the named payees are deceased.
- Joint credit life insurance
- Credit life insurance that pays the full benefit amount to a lender upon the death of any of the cosigners of a loan.
- Joint life and last survivor option (JL&S)
- In Canada, a pension plan provision which provides for the continuation of pension benefits to the spouse of a retired plan participant after the death of the participant. The survivor's benefits, which usually are not as large as the original benefits, continue until the death of the spouse. The provision is required in most Canadian jurisdictions, unless the participant (with spouse approval) elects to forego it. A very similar provision, called a qualified joint and survivor (QJ&S) annuity, is required in the United States for qualified pension plans.
- Joint whole life insurance policy
- One insurance policy that covers two lives and that generally provides for payment of the proceeds at the time of the first insured's death.
- JOURNAL AMOUNT (Table: BATCH)
- This is the actual total of journal voucher debits entered into this batch.
- JOURNAL CONTROL AMOUNT (Table: BATCH)
- This is the control total for journal voucher debits to be entered into this batch, as entered by the operator.
- JOURNAL VOUCHERS & CASH DISBURSEMENTS (Table: GENACCTRN)
- Journal Vouchers: This screen is used to process transactions that affect the General Ledger but are not handled by existing processes. For example the allocation of money received to a certain ledger account. The system expects the Journal Voucher Transaction to control to 0. Put simply, the amount received must equal the total amounts allocated to the various accounts for each transaction. For example: A/C AMOUNT ABC1 150 ABC2 -150 Cash Disbusements: This screen also handles allocation of money to various Ledger Accounts. Unlike the Journal Voucher Screen, Cash Disbursement transactions do not have to control to 0. The system will assume the destination account and debit that account automatically to balance the transaction. This screen may be used to process ad-hoc agent payments for example. In addition, both the Cash Disbursement and Journal Voucher Screens allow the user to nominate specific ledger accounts and/or the plan code (allowing the posting to plan level accounts), policy/certificate number, the agent (to whom the transaction relates) and whether this transaction pertains to writing, override or renewal commission.
- Juvenile insurance policy
- A life insurance policy purchased by an adult to cover the life of a child.
|