GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
^
50% - Moderately

Commissioners' Reserve Valuation Method


Synonyms:insurance valuation, minimum statutory reserves method
Filed Under: annuities, financial-banking, insurance, investments
Tags: annuity, banking, insurance, investment
 

Definition of commissioners' reserve valuation method

commissioners' reserve valuation method
1. A method of valuating minimum statutory reserves for insurance products and annuities that takes the insured person's age and sex, the policy's term length, interest rates, and a mortality table into consideration.

Related Terms and Acronyms:

  • annuitant   An individual who owns or is the recipient of an annuity.
  • annuity table   A table that can be used to find the future value of an annuity.
  • commutation   An option given to the beneficiaries of annuities and life insurance policies that allows them to modify the frequency and size of benefit payments.
  • future value of an annuity (FVA)   The value of an annuity at some future date.
  • life expectancy method   A method of calculating the appropriate size of payments in an annuity's income phase by estimating the annuitant's life expectancy.
  • needs approach   A way of determining how much life insurance an individual should purchase by examining the future obligations and needs of the beneficiaries.
  • present value interest factor of annuity (PVIFA)   A method used to find an annuity's present value.
  • valuation   The estimation of a property's price value through an appraisal.

Search the Glossary

Canadian Mortgage Calculator
We've taken it all apart and put it back together again — bigger and better than ever. The new mortgage calculator adds dozens of new features including a number of automatically generated charts and graphs designed to aid you in finding the best mortgage for you.
Mortgage Calculator Try it
 
Important Tip on Credit Card Debt
Credit card interest rates average at around 18.9 per cent. You, like many other Canadians, may have over ten thousand dollars charged to your credit card, but, if you only make the minimum required monthly payment of 2 per cent ($200 the first month) that $10,000 in credit card debt will ultimately take more than 57 years and cost around 40,000 dollars to fully pay off.

Using a home equity loan will allow you to eliminate the high interest credit card (and by eliminate we mean cut up) and consolidate the debt to a low interest rate mortgage payment.
 
Mortgage Brokers
Buying a house takes a fair bit of time and chances are your life is pretty busy already, what with work, school, maybe even soccer practice for the kids. Hire the right professionals and you can take that hassle off your plate. Our brokers can handle everything for you, from start to finish, and do it in record time.
Mortgage Brokers Save Time