Budget Deficit
Circumstance resulting when government expenditures exceed government income. To finance this difference, the United States Treasury will auction Treasury bills, notes, and bonds. In order to attract investors such as insurance companies, the Treasury will pay higher interest rates on the new issues, resulting in a decline in bond (already issued) prices and the increase in their rates.
Popular Insurance Terms
Insurance that acts as a supplement to medicare in that it will pay the deductibles and coinsurance sums that the Medicare recipient is responsible for paying. In addition, some policies ...
The definition of contract of adhesion or, as it is also known, an adhesion contract is explained as an agreement between two parties where one party has more power than the other when the ...
Same as term Deposit Term Life Insurance: policy in which a premium (the deposit) is paid in the first policy year, in addition to the regular term insurance premiums required. The deposit ...
Entitlement of a pension plan participant (employee) to receive full benefits at normal retirement age, or a reduced benefit upon early retirement, whether or not the participant still ...
Information needed for underwriting a life insurance policy, such as an applicant's age, weight, height, and build; personal and family health record; occupation; and personal habits. These ...
Method whereby an insurer pays the amount of each claim for each risk up to a limit determined in advance and the reinsurer pays the amount of the claim above that limit up to a specific ...
Type of coverage of property owned by one person at several locations, including merchandise, materials, fixtures, furniture, specified machinery, betterments, and improvements made by ...
Effective January 4, 1994, the backup withholding rate on dividends, interest, and gross proceeds distributions increased from 20% to 31%. Backup withholding applies in the following ...
Section of the code that qualifies that the death benefit paid under a life insurance policy is received by the beneficiary income-tax free. These tax consequences apply regardless of the ...
Comments for Budget Deficit
My mother is 101 years old and receives Medicaid and also $756 in SS. She has no assets except her house($50,000 when she dies can Medicaid recover anything
Apr 04, 2019 21:04:20Hi Marilyn! Since your mother is over 65 and has been receiving long term care financed through Medicaid, according to the Medicaid Estate Recovery Program, your mother's house could be used to repay some of her Medicaid benefits.
May 13, 2019 06:24:02Have a question or comment?
We're here to help.