difference between the face value of a permanent life insurance policy and its accrued cash value. The pure cost of protection is based on this difference. For example, if the face value of a lifeinsurance policy is $100,000 and the cash value is $80,000 then the net amount at risk is $20,000. From the Internal Revenue Service perspective, a corridor of protection or net amount of risk must beapparent in a life insurance policy if the policy is to retain its tax advantaged treatment.
in property and liability insurance, the lesser of the policy limit or the maximum possible loss to the insured.
Type of commercial property policy that provides coverage for a business' indirect losses resulting from damages to the property of the business. Coverage normally contains a coinsurance ...
Trust under which the beneficiary (cannot be a charitable beneficiary) receives a fixed percentage (not less than 5% of the trust's annual value) of the net fair market value of the trust ...
Rights of employees who leave an employer with a qualified plan to withdraw their accumulated benefits. With a contributory plan, employees have immediate rights to their own contributions, ...
Extension of coverage available under the Standard Fire Policy. The standard policy only covers the perils of fire and lightning. The endorsement covers riot, riot attending a strike, civil ...
Procedure to minimize the adverse effect of a possible financial loss by (1) identifying potential sources of loss; (2) measuring the financial consequences of a loss occurring; and (3) ...
Monthly income payment provided by a Disability income insurance policy to the insured wage earner when income has been interrupted or terminated because of illness, sickness, or accident. ...
Every person has a different idea of what financial security means. If so, should happen to you, how much money would you family need? You should consider:
- Your current debt.
...
Commercial insurance is designed to help protect many of the risks your business can face, including: damage or destruction to your business vehicles certain liability exposures resulting ...
Long-term care refers to a broad range of medical and personal care services designed to assist individuals who have lost their ability to perform activities of daily living without ...
Liability Coverage: In case you're sued as a result of an auto accident. Collision Coverage: Helps cover physical damage to your vehicle due to collision or upset. Comprehensive Coverage: ...
Whole life insurance insurance provides the coverage amount to your beneficiary in the of your death, as well as cash value savings you can use during your lifetime. ...
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 ...
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