Cash Withdrawals
Removal of money from an individual life insurance policy or an employee benefit plan. A cash withdrawal from a life insurance policy reduces the death benefit by the amount of the withdrawal plus interest thereon. When a cash withdrawal is made from an employee benefit such as a pension plan, the employee usually forfeits all benefits purchased on the employee's behalf by the employer.
Popular Insurance Terms
Coverage up to specific limits for payments demanded by kidnappers for the release of an insured held against his or her will. Most ransom insurance policies have a deductible and exclude ...
Rate of return computed by dividing the current annual dividend (if a stock) or annual coupon amount (if a bond) by the amount paid for that financial instrument. ...
Provision used to avoid duplication of coverage in other policies; to eliminate coverage for property under the care, custody, and control of an insured business; as well as to avoid ...
1% of the loan amount paid to the lender for making a loan. ...
Health insurance coverage for miscellaneous medical expenses associated with a hospital stay. Benefits provided in individual and group health insurance include ambulance service to and ...
Membership organization of insurance companies that write workers compensation insurance. The organization collects statistics on the frequency and severity of job-related injuries to ...
Same as term Debit Insurance: life insurance on which a premium is collected on a weekly, bi-weekly, or monthly basis, usually at the home of a policyholder. The face value of the policy is ...
Same as term Coverage: protection under an insurance policy. In property insurance, coverage lists perils insured against, properties covered, locations covered, individuals insured, and ...
Average earned monthly income of the insured wage earner after regular earned income has been interrupted or terminated because of illness, sickness, or accident. This income amount is ...

Have a question or comment?
We're here to help.