Employee Benefit Insurance Plan
Provision by an employer for the economic and social welfare of employees. Generally include: pension plans for retirement; group life insurance for death; group health insurance for illness and accident; group disability income insurance for loss of income due to illness and accident; and accidental death and dismemberment. Dental insurance, eyeglass insurance, and legal expense insurance may be included. These plans are established for the reasons of morale, to reduce turnover, and for tax benefits (contributions are usually deductible as business expenses to employers and not currently taxable income to employees).
Popular Insurance Terms
Government health care program in several European countries that has been proposed in various forms for the U.S., to be administered by the federal government. Plan A would cover all U.S. ...
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Provision in insurance policies that states the deductible. ...
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tort against another person's property, designed to detain or dispose of it in a wrongful manner. For example, wrongful selling of another person's automobile without permission would ...
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