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- NAIC
- See National Association of Insurance Commissioners.
- NALU
- Formerly the National Association of Life Underwriters, see National Association of Insurance and Financial Advisors.
- NAIFA
- See National Association of Insurance and Financial Advisors.
- NASD
- See National Association of Securities Dealers.
- NASDAQ COMPOSIT INDEX
- A stock market index that measures the performance of all NASDAQ domestic and foreign stocks. The index is a market-value-weighted index and is affected more by the large-cap technology stocks that dominate the index.
- NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS (NAIC)
- A national organization of state insurance commissioners with a goal of promoting uniformity of state regulations for the insurance industry. Also see NAIC Home Page.
- NATIONAL ASSOCIATION OF INSURANCE AND FINANCIAL ADVISORS (NAIFA)
- A life insurance organization of local insurance and financial advisors associations representing life and health insurance agents on practices of selling and servicing life and health insurance products. National public service programs are also sponsored. Also see the NAIFA Home Page.
- NATIONAL ASSOCIATION OF SECURITIES DEALERS (NASD)
- This is an organization of over-the-counter securities dealers and brokers that enforce, on a self-regulated basis, the rules of the Securities and Exchange Commission (SEC). These efforts are to protect investors from fraud and market manipulation of stocks. Also see NASD Home Page.
- NATIONAL FLOOD INSURANCE PROGRAM (NFIP)
- See Federal Flood Insurance.
- NET AMOUNT AT RISK
- In a life insurance policy, this is the difference between the face amount of the policy and the cash value of the policy. It is also known as the pure amount of protection.
- NET ASSET VALUE (NAV)
- The value of a mutual fund share as determined at the close of each business day. The mutual fund adds up the market value of all securities in its portfolio, deducts expenses, and divides this total by the number of shares outstanding. All shares redeemed on that day are done so at the NAV for that specific day.
- NO-FAULT AUTOMOBILE INSURANCE
- A form of coverage whereby an insured's own insurance company provides indemnity (pays the claims) for property damage and/or bodily injury regardless of who was at fault.
- NO-LOAD FUND
- A type of mutual fund offered by an open-end investment company that does not impose a sales charge on the purchase of shares.
- NOMINAL INTEREST RATE
- Also referred to as nominal yield, this is the annual amount received as interest from a fixed income security relative to the par value of the issue.
- NONADMITTED ASSETS
- A Statutory Accounting term that refers to assets that an insurance company is not permitted to be included in the company's annual statement. These assets include furniture and fixtures and receivables form agents.
- NONADMITTED REINSURER
- A reinsurer that is not licensed in a state to reinsure policies in a patricular state.
- NONCANCELLABLE GUARANTEED RENEWABLE POLICY
- A type of health insurance or disability income insurance that once issued by the insurance company cannot be canceled or the premiums increased. As long as the premiums are paid, the policy cannot be canceled regardless of the current health of the insured.
- NONCONTRIBUTORY PLAN
- A pension or other employee benefit plan in which the plan sponsor make the entire contribution to the plan. Also see contributory plan.
- NONFORFEITURE PROVISION
- When the premiums on a cash value life insurance policy are discontinued prematurely, the cash value of the policy that is available may be paid out to the policy owner or used to extend protection. The most common nonforfeiture options are as follows:
- NONLIQUID ASSETS
- Assets that can not be transferred into cash quickly and without a significant loss. Examples may include real estate and business interests.
- NONMEDICAL APPLICATION
- An application for life insurance where the proposed insured is not required to undergo a medical examination. The applicant is required to answer a number medical questions on the application.
- NONMEDICAL LIMIT
- The maximum amount of insurance that will be issued for an applicant without taking a medical examination or a paramedical examination. The underwriting is based on a health questionnaire.
- NONPARTICIPATING POLICY (NON PAR)
 
- A type of insurance policy that does not pay dividends to policyholders.
- NON-QUALIFIED PENSION PLAN
- A form of retirement plan that does not qualify for federal income tax deduction by the employer. These plans include:
- NONRESIDENT LICENSE
- A state license to sell insurance products granted to an individual that is not a resident of that state.
- NONSCHEDULED DENTAL PLAN
- A type of dental insurance that pay benefits based on the dentist's actual charges. The charges must meet the usual, customary and reasonable charges rule.
- NON-SMOKER RATING
- A life /health insurance underwriting class that is used for applicants that have not used tobacco products during the past 2 years (time may vary by insurance company). Most companies charge a reduced premium rate for non-smokers.
- NORMAL RETIREMENT AGE
- The age that a participant in a pension plan may elect to retire and receive full benefits under the plan. This age is usually 65.
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