Dependent
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).
Popular Insurance Terms
Projected percentage of the earned premiums that will be required by the insurance company to pay for the incurred losses plus the loss adjustment expense. ...
Law created by government regulatory agencies, such as the office of the commissioner of insurance, through decisions, orders, regulations, and rules. For example, rate making hearings ...
Compulsory employee benefit plan under which participants are entitled to a series of benefits as a matter of right. The plan is administered by a federal or state government agency and has ...
Stipulations of the rights and obligations of an insured and an insurer under a policy. ...
Clause in a property insurance policy that requires the insurance coverage in that policy to be allocated in the proportion that it bears to the total insurance coverage in force from all ...
Insurance company's total premium income plus investment income. ...
Analytical procedure to predict the failure rate of a system still in the design stage. ...
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 ...
Individual action or failure to act as a reasonably prudent person would under similar circumstances, resulting in harm to another. Also called negligence. A reasonably prudent person is ...
Have a question or comment?
We're here to help.