Advanced Funded Pension Plan

Definition of "Advanced funded pension plan"

Retirement plan in which money is currently allocated to fund an employees' pension.

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Tax Credit

Reduction in taxes payable to the IRS or local government. A tax credit is more beneficial to the ta ...

Fraudulent Misrepresentation

Dishonest statement to induce an insurance company to write coverage on an applicant. If the company ...

Graded Policy

Insurance for which premiums are charged according to the size of the face amount of the policy, so ...

Territorial Limits

Condition for inland marine liability insurance coverage that states a loss or claim must occur in t ...

General Operating Expense

Costs incurred by an insurance company other than agent commissions and taxes; that is, mainly the a ...

Rollover Individual Retirement Account

Individual retirement account (IRA) established to receive distribution of assets from a qualified p ...

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