Absolute Beneficiary

Situation in which insurance benefits exceed the actual loss of an insured. Overinsurance can be a problem for the insurer because it may tempt the insured to make a false claim in order to ...

Dollar limitations under the Internal Revenue Service code as follows: The elective annual deferral limit is $10,000. A highly compensated employee's annual compensation limit is $80,000. ...

Life insurance that pays the balance of a mortgage if the mortgagor (insured) dies. Coverage is usually in the form of decreasing term insurance, with the amount of coverage decreasing as ...

in property and casualty insurance, termination of a policy because of failure to pay a renewal premium. in life insurance, termination of a policy because of failure to pay a premium and ...

Strategy that provides that all income from assets in trust be paid at least annually for the life of the surviving spouse. This trust, which prohibits transfer of any assets to anyone ...

Central fund into which employees contribute untaxed earnings to pay for the insurance premiums and uninsured medical costs. When the employee submits evidence of unreimbursed medical ...

Single policy on the insured's property for: two or more different kinds of property in the same location; same kind of property in two or more locations; two or more different kinds of ...

Modified collateral split dollar life insurance plan under which the employee purchases and owns a life insurance policy on the employee's own life. The employer makes the unscheduled ...

Commercial insurance is designed to help protect many of the risks your business can face, including: damage or destruction to your business vehicles, office equipment, and inventory. Loss ...

Insurance will cover any homemade or custom-built system, but you will need to have proof of ownership of each of the individual parts within the computer to file a claim. ...

Loss of luggage Loss of travel documents Cancellation and lost deposit expenses Medical expenses: including overseas Death Burial and transport expenses Liability coverage if ...

Owning a condominium puts you in a unique position. Unique because you have both common and individual insurance needs. Odds are, your condominium association has an insurance policy for ...

Our agents have a wide range of coverages available, as well as an array of choices for limits and deductibles. If you own a small or large business, our agents will help you in tailoring a ...

A principle of insurance which provides that when a loss occurs, the insured should be restored to the approximate financial condition occupied before the loss occurred, no better no worse. ...

General Liability Coverage includes: Bodily Injury Liability Coverage: Help protect you in case injuries occur to other people resulting from your operations. Property Damage ...

Warranties primarily cover manufacture\'s defects parts that go bad from regular use. Insurance covers things like- Theft Fire Power surges Lightning Spilled coffee in the ...