Custodial Care
Definition of "Custodial care"
Assistance provided to a person in performing the basic daily necessities of life, such as dressing, eating, using a toilet, walking, bathing, and getting in and out of bed. This type of care does not require hospitalization for the treatment of a disease, illness, accident, or injury. Its cost may or may not be covered by health insurance.
Popular Insurance Terms
Transfer of highly individualized loss exposures that is not based on the usual pooling principles of insurance such as risk identification and classification selection. Rather than setting ...
Maximum age of an applicant or insured beyond which an insurance company will not initially underwrite a risk or continue to insure it. For example, under some forms of renewable term life ...
Deferred annuity under which one premium payment is made and the annuity is paid up (no further premium payments are required). ...
Methods by which a home office underwriter chooses applicants that an insurer will accept. The underwriter's job is to spread the costs equitably among members of the group to be insured. ...
Section providing protection in four areas: Coverage A (Home) the structure of the home (basic contract amount). Other property coverages in Section I are expressed as a percentage of ...
Fund in a segregated account to provide for the return of unearned premiums on policies that are canceled. ...
Federal statute defining the federal tax code, covering such topics as credits against tax; business-related credits; computing credit for investment in certain depreciable property; ...
Financial instruments whose principal and income are not established in advance according to contractual terms set forth in the financial instruments document. Both the principal and income ...
Clause in an insurance policy that provides for the payment of a monetary sum to the individual (s) who incurred the loss. ...
Have a question or comment?
We're here to help.