A person who relies on another for economic support. For insurance purposes, the following may be included:
the insured's legal spouse;
any unmarried children younger than a specified age who are dependent upon the insured for support (age requirements vary from plan to plan);
unmarried children between specified years of age who are dependent upon the insured for support, and who are full-time students in an educational institution (age requirements vary).
A dependent child cannot be covered under more than one insured employee's plan. For example, if the husband and wife are both insured employees of different companies, coordination of benefits would determine which plan is primary and which plan is secondary. In some states, the father's plan is primary; in other states, the birthday rule would be used: the parent with the earlier birthday would have the primary plan.
Written statements on a form by a prospective insured about himself, including assets and other personal information. These statements and additional information, such as a medical report, ...
Stipulation that no claim will be paid until a loss exceeds a flat dollar amount or a given percentage of the amount of insurance in force. After the loss exceeds this dollar amount or ...
Amount of required capital that the insurance company must maintain based on the inherent risks in the insurer's operations. These risks include asset depreciation risk, credit receivables ...
Work-related accident. Occupational accidents that injure employees are the responsibility of the employer and are covered by workers compensation insurance. In recent years, the term ...
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First of all, you need to understand the different types of life insurance and what each type of life insurance covers. Life insurance is very important and purchasing one is in both yours ...
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