Estate Planning
Definition of "Estate planning"
Procedure for accumulating, conserving, and distributing personal wealth. In essence, estate planning focuses on enhancement of the value of an estate and its conservation. At the death of an owner, estate planning seeks to transfer the estate to the heir (s) with a minimum loss in taxes and other expenses. Depending on the size and nature of an estate, the expertise of one or more of these specialists may be useful: lawyer, accountant, life insurance agent, banker, or a qualified financial or estate planner.
Popular Insurance Terms
Extension of a Workers Compensation and Employers Liability Insurance policy to cover workers who go aboard ship to perform their jobs. ...
The pro rata clause in an insurance policy stipulates ways in which coverage is distributed. Because of pro rata clauses, there are instances in the insurance world where one policyholder ...
Statistics (such as health data from physical examination of employees or other insureds) used as a benchmark from which deviations and comparisons of expected losses, as well as future ...
Study of buying habits of consumers to determine their insurance needs. ...
Relationship of the frequency of illness, sickness, and diseases contracted by individual members of a group to the entire group membership over a particular time period. ...
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Policy that generates a savings element. Cash values are critical to a permanent life insurance policy. The size of a cash value buildup differs substantially from company to company. In ...
Highest price investor is willing to pay for a stock or mutual fund unit and lowest price a seller of a stock or mutual fund is willing to accept. ...
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