reserve
Definitions from Case Law · United States Supreme Court
Definitions from Case Law
From 291 U.S. 170 - Williams v. Union Central Life Insurance · 1934Most cited · 283 citing opinions
insurance
Where level premiums are paid, the amount of the annual premium is necessarily greater than the mortality cost during the early years of the insurance and less than the mortality cost in later years. With the mortality table and an assumed rate of interest on the investment of premiums received, the amount of the accumulated savings on this basis, at any date, can be mathematically computed. This amount constitutes the 'reserve' against the policy or its net value.
How often courts cite the cases defining “reserve”
Court decisions citing the 2 opinions that defined “reserve” — 476 in all, by decade. Counts are citations to the defining cases as a whole, not verified uses of the term. The dip in the most recent years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the latest years.
All 2 definitions, chronological · 1934–1935
In life insurance the reserve means the amount, accumulated by the company out of premium payments, which is attributable to and represents the value of the life insurance elements of the policy contracts.
life insurance