Family Considerations
Definition of "Family considerations"
Factors influencing the amount of life insurance to purchase, such as marketable skills of spouse, age of children, savings, investments, number of future working years' expectancy, amount of bills and notes outstanding, and funds necessary to maintain the family's customary life-style should the wage earner die.
Popular Insurance Terms
Coverage for property which moves from location to location either on a scheduled or unscheduled basis. If the floater covers scheduled property, coverage is listed for each item. If a ...
Failure to exercise proper care. Many property insurance policies exclude losses that result from negligence. Neglect is also the basis for many liability suits. If an injury can be ...
Rating system under which a specific premium rate, rather than a manual or class rate, is assigned to each unit of exposure. ...
Employee stock ownership plan (ESOP); trust (ESOP) under which an employer received tax credit instead of a tax deduction for contributions. Until passage of the tax reform act of 1986, the ...
Soliciting of customers for the purchasing of an insurance product. ...
Death from other than accidental means. ...
Federal legislation that established the old age survivors, disability, and health insurance (OASDHI). ...
Circumstance that increases the likelihood or probable severity of a loss. For example, the storing of explosives in a home basement is a hazard that increases the probability of an ...
Insurance sold by a stock insurance company that is usually in the form of nonparticipating insurance. ...
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