Generation Skipping Transfer Taxes
Provision under the Internal Revenue Code, Chapter 13, that specifies a transfer tax of 55% of the gift to a person at least two generations younger than the transferor (person who gives the gift). This tax is imposed in addition to any estate taxes or regular gift taxes.
Popular Insurance Terms
Statement showing assets and liabilities of an individual. ...
Termination of coverage in insurance. ...
Income averaged over a specified period of years. For example, to calculate benefits in a pension plan, it is common to average the highest three years or five years of earnings. ...
Retrospective rating system with basic, minimum, and maximum premium rates listed in manual tables. Calculation of an individual premium involves adjusting the basic premium for appropriate ...
Allocation of monetary resources to equities. ...
Insurance company's liability for incurred but unpaid expenses. ...
Person who has the responsibility for examining the risk to determine whether or not to insure it. ...
Membership organization of property and liability insurance companies. The association promotes the economic, legislative, and public standing of its members through its attention to ...
List of cash allowances for various types of surgeries. ...
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