Corporate-owned Life Insurance
Insurance on the life of the employee, paid for by the company, with the company being the beneficiary under the policy. This insurance vehicle is being used more and more to fund postretirement employee plans, in which the cash values are listed as assets on the company's balance sheet.
Popular Insurance Terms
Law, in several states, establishing a fund to guarantee benefits under policies issued by insurance companies that become insolvent. ...
Requirement that an individual must withdraw a minimum sum annually from retirement savings that have accumulated on a tax-deferred basis. This withdrawal must begin by April 1 of the year ...
Provision in an insurance policy that states the monetary value of each piece of property to be insured. ...
Standard property-liability insurance premium set by a rating bureau for a particular class of risk. ...
Unfriendly fire not confined to its normal habitat. For example, fire in the fireplace leaps onto the sofa. Property contracts protect against damage from a hostile fire, not from damage ...
Investment risk associated with the relationship between the yield (interest, dividends, and capital) of financial instruments and the rate of inflation in the economy. For fixed income ...
Same as term Mortality Table: chart showing rate of death at each age in terms of number of deaths per thousand. ...
Coverage usually provided as part of the special Multiperil insurance (smp) policy, generally replaced by the commercial package policy, through the attachment of the Blanket Crime ...
Actuarial method of crediting retirement benefits earned and the costs associated with these earned retirement benefits. An increment (unit) of benefit is credited for each year of ...
Have a question or comment?
We're here to help.