Family Support Act Of 1988
Definition of "Family support act of 1988"
Legislation that changed the tax treatment concerning child-care expenses so that an employee who has incurred child-care expenses greater than $4800 and who is participating in a company-sponsored dependent care assistance program is required to choose between the company plan and the child-care credit. The tax benefit gained by the employee from the child-care credit is reduced dollar for dollar to the extent that the company plan is used to cover child-care expenses.
Popular Insurance Terms
Determination that policies entered into on or after June 21,1988, that fail the 7-pay test (aggregate premiums paid at any time during the first 7 years of the contract exceed the annual ...
Federal program to insure private U.S. investments in foreign countries, created by the Foreign Assistance Act of 1961. It is a joint government and private effort to encourage U.S. ...
Loss of a key person due to death, disability, sickness, resignation, incarceration, or retirement. Because of the expertise of such an individual, there could be a loss of income, market ...
Annual report to policyholders of certain cash value life insurance products and annuities to inform them of the value of the investment portion of their contracts. Buyers of whole life ...
Law by which many states attempt to regulate insurers who are unlicensed in those states. With a few notable exceptions, such as re insurers, insurance companies must be licensed in the ...
Type of commercial property policy that provides coverage for a business' indirect losses resulting from damages to the property of the business. Coverage normally contains a coinsurance ...
Present value of future benefits. This type of reserve would be applicable for single premium life insurance, paid-up insurance, single premium annuity, and a paid-up annuity. ...
Found under the "Exceptions and Exclusions Section for All Medical Benefits" in many health insurance policies that exclude: complications arising from elective, nontherapeutic voluntary ...
Same as term Defined Benefit Plan: retirement plan under which benefits are fixed in advance by formula, and contributions vary. The defined benefit plan can be expressed in either of two ...
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