Group Disability Insurance
Coverage of an employee group whose members receive a monthly disability income benefit, subject to a maximum amount, if illness or accident prevents a member from performing the normal functions of his or her job. Benefits are usually limited to a stated length of time, and the maximum monthly income benefit is usually no more than 50-60% of earnings prior to the disability, or a flat dollar amount, whichever is less.
Popular Insurance Terms
Effective proprietor of a business. Under the tax reform act of 1986, a uniform accrual rule prevents a qualified pension plan from being weighted in favor of the substantial owner of the ...
Arbitrator who settles disputes over the amount of loss when an insurer and an insured do not agree. ...
Will written totally in the handwriting of that individual whose name appears on the will. ...
Expectation of illness or injury. The probability of such occurrence is shown by a morbidity table, which is important in determining the premiums for health insurance policies. ...
Same as term Expense Allowance: payment to an insurance agent in addition to commissions. Expense allowances, that differ from company to company, vary with the amount of business agents ...
Coverage for business firms operating abroad to insure them against loss due to political upheavals including war, revolution, confiscation, incontrovertibility of currency, and other such ...
Payment of an employee's employee benefit insurance plan benefits to the employee's individual retirement account ( IRA) or to another plan maintained by the employer. ...
Decision in the absence of a plaintiff or defendant at the specified court time. ...
Coverage for items that are on consignment, including exhibits, goods up for auction, and goods awaiting someone's approval. The stipulation for coverage is that these items cannot be under ...
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