Costs taken over an above what one is entitled to. This can occur either by claiming depreciation costs exceeding actual depreciable value or by depreciating items that cannot be depreciated. Items that cannot be depreciated include land, since it never wears out, inventory, containers, costs to dem...

Plan administered through a primary private life insurer and reinsured through other private life insurers, providing a death benefit equal to: one year's salary for active employees at least age 45 until they reach age 65; two years' salary for active employees age 35 and under. The death benefit...

Institutional investment sold by life insurance companies that guarantees principal and offers withdrawal flexibility. This conservative investment, which can be used with a corporate qualified plan, became one of the most popular choices in such salary reduction plans as the 401 (k) plan. Many of t...

Accounting rule found under the Generally Accepted Accounting Principles (GAAP) that prohibits the insurance company from restating assumptions that it made for interest earned, expenses paid, and mortality charges for policies in force....