Additional Death Benefit
Extra layer of life insurance coverage. This term is often applied to double indemnity. For example, some life insurance policies provide a death benefit of a multiple of the face value if the insured dies between certain ages when dependent children may still be living at home.
Popular Insurance Terms
Amount received by the policyholder if the policy is canceled, benefits are reduced, or the premium is reduced. ...
Modification in premiums, reserves, and other values to reflect actual loss experience and expenses and expected benefits to be paid. ...
Reckless action without regard to life, limb, and/or property; for example, driving 100 miles per hour on a road or highway. ...
services provided in an employee benefit plan such as a pension plan. An employer provides the clerical staff to operate the plan, in effect acting as custodian. The trustee provides ...
Organization following the format of Lloyd's of London. ...
Layering of a bond portfolio where bonds are sold whose yield to maturity are low and bonds are bought whose yield to maturity are high in order that reserve requirements are met for future ...
Provision in automobile insurance, such as the personal automobile policy (pap), stating that a particular policy furnishes adequate coverage, the minimum of which is at least equal to that ...
transfer of money from or an employer-sponsored pension or other qualified plan into an INDIVIDUAL RETIREMENT ACCOUNT (IRA) with out paying tax on the distribution. transfer of money from ...
Right of a policyholder, in life insurance with cash values, to continue full coverage for a limited period, as shown in a table in the policy, with no further premiums payable. ...
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