The Cornerstone Group

Real Estate Glossary Terms

• Equity Sharing

  Arrangement whereby a party providing financing gets a portion of the ownership. ...

• Ancillary Benefits

  Health insurance coverage for miscellaneous medical expenses associated with a hospital stay. Benefits provided in individual and group health insurance include ambulance service to and from a hospital, drugs, blood, surgical dressings, operating room, medicines, bandages, X-rays, diagnostic tests, ...

• Discontinuance Of Plan

  Termination of a plan. Under federal tax law, a plan can only be terminated for reasons of business necessity. Otherwise, prior employer tax deductible contributions under the plan are disallowed. ...

• Industrial Insured

  One who purchases insurance, usually property and liability and not life or annuities, by utilizing his or her own employee purchaser or licensed broker/agent at a minimum annual premium of not less than six digits. ...

• Vanishing Premium Provision

  Clause in a life insurance policy that states that once the cash value exceeds the net single premium (based on current interest and mortality rates) required for the policy to become paid-up insurance, the policy owner may elect not to make further premium payments. If the cash value falls below th ...