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
Obligations and responsibilities subject to evaluation, interpretation, and enforcement in a court of law. Casualty insurance provides coverage for an insured against a civil legal ...
Distribution of a deceased beneficiary's share of an estate among that beneficiary's children. Contrast with per capita. ...
In which at least two insurance policies provide identical coverage for the same risk. ...
Insurance company's investments in assets other than in companies it controls and/or companies with which it shares common ownership, stocks, and bonds. ...
Same as term Civil Damages Awarded: ...
Association of general agents and managers affiliated with the NATIONAL ASSOCIATION FOR LIFE UNDERWRITING (NALU). Their objective is to seek solutions to common managerial problems. GAMC ...
Assets minus liabilities of the insurance company. ...
Organization that seeks to educate the public on the benefits of private health insurance coverage. Its membership consists of private companies that sell health insurance. The HIAA ...
Rule that prohibits the introduction into a court of law of any oral or written agreement that contradicts the final written agreement. For example, an insurance contract containing clauses ...
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