Gross Earnings Form
Coverage for loss in the gross earnings of the business (minus expenses that cease while the business is inoperative) as the result of the interruption of normal business activities caused by damage to the premises by an insured peril. Non continuing expenses include light, gas, and advertising for which there is no contractual obligation. Coverage can be obtained on either a 50,60,70, or 80% coinsurance basis. Selection of the coinsurance percentage is dependent upon the length of time business is expected not to operate in die worst of circumstances.
Popular Insurance Terms
Provision of a property insurance policy which covers conditions usually present in a particular location. For example, there is an inherent risk of explosion in a flour mill. ...
Payment of premiums before their due date. In pension plans, premium payments are allocated to the payment of future benefits prior to benefits becoming payable. ...
Covers losses resulting from the malfunction of boilers and machinery. Most property insurance policies exclude these losses, which is why a separate boiler and machinery policy or a ...
Program enacted in 1965 under Title XVIII of the Social Security Amendments of 1965 to provide medical benefits to those 65 and over. The program has two parts: Part A, Hospital Insurance, ...
a contract in life insurance that includes elements of whole life and term insurance. in pensions, a combined life insurance policy and a side (auxiliary) fund to enhance the amount of a ...
In property and casualty insurance, contract section containing such information as name, description, and location of insured property; name and address of the insured; period a policy is ...
Same as term Disability Benefit: income paid under a disability policy that is not covered under workers compensation benefits. It is usually expressed as a percentage of the insured's ...
Same as term Mortality Table: chart showing rate of death at each age in terms of number of deaths per thousand. ...
Requirement that the combination of medicare and the employer's plan can not be greater than the amount the employer's plan would pay without Medicare. ...
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