CD Account (Cash Deposit)
A plain-English definition from the DeployIT insurance technology glossary.
In short: A float account an employer maintains with an insurer to fund group policy endorsements (member additions) during the policy year.
Related terms
- GMC (Group Mediclaim)
- Employer-sponsored group health insurance covering employees (and often dependents) under one master policy.
- Endorsement
- A mid-term modification to a policy, such as adding or removing group members, address changes or nominee changes, issued as an amendment.
See this concept working in software
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