Deposit Administration Plan
Definition of "Deposit administration plan"
Unallocated funding instrument for pension plans under which premiums are placed on deposit, and are not currently allocated to the purchase of benefits for the employee. At retirement, an immediate retirement annuity is purchased for the employee. The amount of monthly income depends on the investment results of the funds left on deposit. Many insurance companies guarantee a minimum rate of return on funds left on deposit.
Popular Insurance Terms
Proposal by Roger Kenney, an insurance journalist, that in order to maintain the solvency of a property and casualty insurance company, insurance premiums written should not exceed more ...
Expenses connected with resolving an estate to include medical expenditures, funeral expenditures, probate expenditures, estate taxes, legal fees, and other administrative expenditures. ...
Rules stating that, under the tax EQUITY AND RESPONSIBILITY ACTS OF 1982 AND 1983 (TEFRA), a plan can not discriminate in favor of key employees regarding contributions and benefits if ...
Provisions added to an original insurance policy that alter or modify benefits and coverages of the contract. For example, a homeowners insurance policy can be endorsed to cover a ...
Delivered insurance policy to the policyholder in which the policy's first premium has been paid, the application has been reviewed, and all policy parts completed. ...
Adjustment in property insurance to reflect increased construction costs. ...
Provision in a property, liability, or health insurance policy stipulating the extent of coverage in the event that other insurance covers the same property. ...
Effort by an individual to continue to receive disability income benefits by taking a continuing sickness or injury. ...
Coverage for all personal property, regardless of location of an insured and household residents, including children away at school. Written on an all risks basis, subject to excluded ...
Have a question or comment?
We're here to help.