Dependent Coverage
Definition of "Dependent coverage"
Coverage under life and health insurance policies for dependents of a named insured to include a spouse and unmarried children under a specified age. Under some life insurance policies an insured's spouse and dependent children, unmarried and under age 21, can be added at favorable rates. Health insurance policies cover the same dependent individuals at a far cheaper rate than the cost of separate policies for them.
Popular Insurance Terms
Acts or omissions that result in suits against an individual and/or residents of the individual's household for actual or imagined bodily injury and/or property damage to a third party. ...
Method, developed in 1970 by Dr. William Haddon, Jr., of classifying and preventing damage caused by accidents. The thesis is that accidents are caused by the transfer of energy with such ...
Form showing notification that an insurance policy has been renewed with the same provisions, clauses, and benefits of the previous policy. ...
Liability insurance coverage for claims arising from acts that occurred before the beginning of the policy period. Policies written on a claims made basis, such as malpractice liability ...
Retirement payments to be credited for future years of service with an employer. ...
Loss experience of a given insured. ...
Premium paid at the time a policy goes into effect. With some policies, such as group health insurance, premiums are subject to adjustment at the end of the policy period to reflect loss ...
Funding of an employee's benefits in a pension plan for his or her beginning past service of employment. This is a significant cost factor in pension planning and financing of future ...
Method used to determine the policyholder's return on premiums paid into a life insurance policy. This method is illustrated in two ways:.Surrender of Policy Approach calculation of the ...
Have a question or comment?
We're here to help.