a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind;
(ii)
a contract of guaranty or suretyship entered into by the guarantor or surety as a business and not as merely incidental to a business transaction; and
(iii)
a plan in which the risk does not rest upon the person who makes an arrangement, but with a class of persons who have agreed to share the risk. See Utah Code 31A-1-301
Life insurance: means :
(i)
insurance on a human life; and
(ii)
insurance pertaining to or connected with human life. See Utah Code 31A-1-301
Nonparticipating: means a plan of insurance under which the insured is not entitled to receive a dividend representing a share of the surplus of the insurer. See Utah Code 31A-1-301
Participating: means a plan of insurance under which the insured is entitled to receive a dividend representing a share of the surplus of the insurer. See Utah Code 31A-1-301
