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.
Coverage that provides for replacement of damaged or destroyed property on a new replacement cost basis without any deduction for depreciation. This is equivalent to replacement cost ...
Stipulation that every participant in health care has the right according to law to purchase health insurance from a private insurance entity. The participant's purchase is voluntary and ...
U.S. government agency that administers life insurance, health insurance, welfare, mortgage loans, education, pension benefits, and other programs for veterans of the U.S. armed forces. ...
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 ...
Provision of the 1987 Tax Act that excludes life insurance owned by a third party or an irrevocable trust from federal estate taxes. Life insurance, as well as the deceased's personal ...
Coverage for a contractor's liability for injuries or property damage suffered by third parties as the result of the contractor completing an operation. The contractor must take reasonable ...
Warranties primarily cover manufacture\'s defects parts that go bad from regular use. Insurance covers things like- Theft Fire Power surges Lightning Spilled coffee in the keyboard ...
When you’re going through the home buying process, especially if it’s your first time, it may be easy to get lost through the paperwork, legal terms, and additional things you ...
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 ...
Insurance will cover any homemade or custom-built system, but you will need to have proof of ownership of each of the individual parts within the computer to file a claim. ...
Choosing the auto insurance requires consideration of manyfactors- Take into account everything you own and the reasons to protect them. The year of the vehicle and actual cash value of it ...
Commercial insurance is designed to help protect many of the risks your business can face, including:
- Damage or destruction to your business vehicles.
- Certain liability ...
You’ve read all about how to stop a lien on your property, which convinced yourself that title insurance is a must. But now you’re wondering how to get title insurance. ...
There comes a time when every zealous homeowner asks himself – usually at a very inconvenient hour, like 3 am: Do I need Flood Insurance?
The answer is: probably.
Here’s why: ...
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