Adjustment Income
Income payable to a surviving spouse or other beneficiary upon the death of the primary wage earner to bridge the gap until the beneficiary is self-sufficient. For example, income can be provided for a limited period of time until a widow can regain emotional stability, receive career guidance, as well as training, to establish a permanent career if necessary. The need for adjustment income is a significant consideration in deciding how much life insurance to purchase.
Popular Insurance Terms
Coverage provided on an all risks basis for an exhibitor whose product, while being displayed at a public exhibition, is damaged or destroyed by a peril that is not specifically excluded in ...
Payments due to an insurance company but not yet paid. ...
States that preclude the placement of surplus lines with particular insurance companies. ...
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Income paid under a disability policy that is not covered under workers compensation benefits. It is usually expressed as a percentage of the insured's income prior to the disability, but ...
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Retirement arrangement in which contributions are divided between allocated (insured) and unallocated funding instruments (an uninsured plan). It seeks to combine the advantages of ...
Title of a published set of rules, adhered to by member companies of major property and liability associations, that stipulate how losses should be adjusted when the same loss is covered by ...
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