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Agency cost reduction is an obvious rationale for long-term, noncancellable leases.
137) "Life insurance" companies include companies that issue noncancellable contracts of health and accident insurance provided certain requirements are met.
You want a policy that is guaranteed renewable and noncancellable, no matter what claims you make.
Our focus is on noncancellable, long-term financial leases because they are most nearly the equivalent of debt financing.
If you get a noncancellable policy (also called a guaranteed renewable policy), then you will receive individual insurance under that policy as long as you keep paying the monthly premium.
acquires equipment under a noncancellable lease at an annual rental of $30,000, payable in advance for five years.
10) One market study indicates that females purchase only 22 percent of all individual, noncancellable LTD policies (Edmonston and Scott, 1987).
The hospital should also offer disability insurance and/or encourage staff to purchase individual noncancellable policies that will provide income if they are disabled by physical or mental illness.
First, the lease term under the current standards includes the noncancellable period of the lease and any periods from renewal or purchase options that provide specific economic incentives to exercise the options.
For one client, which operates a huge tank car rail fleet, Tchon placed a noncancellable excess liability program under budget in the face of two recent large losses by other rail risks; the need for a multiyear program that would accommodate substantial growth; and a requirement the program would protect the client's earnings and valuation by holding pricing level until 2013 even if losses occurred--a necessity to cement the client's long-term acquisition agreement with a buyer.
In the individual disability market, a lawyer who buys a noncancellable, guar anteed renewable disability policy today could leave to open a skydiving school, Hazzard says.