Definition of "Hardship"
Existence of a financial need which permits in-service withdrawals of funds from a section 401 (k) plan or a section 403 (b) plan to pay tuition for post secondary education for a participant or his or her spouse, children, or other dependents.
Popular Insurance Terms
Insurance company that transfers a risk to a reinsurance company. ...
Protection required under the Motor Carrier Act of 1935. The policy covers the motor truck carrier if it is legally liable for the damage, destruction, or other loss of the customer's ...
Date after which losses may occur and be covered under a claims-made basis liability coverage. ...
Balance sheet and profit and loss statement of an insurance company. This statement is used by State Insurance Commissioners to regulate an insurance company according to reserve ...
Limits on reimbursement by an insurance company. Health insurance plans pay a doctor's full charge for service if it does not exceed the usual charge; that is, if it does not exceed the ...
Liability insurance coverage, primarily for shipyards for ocean marine risks, provided in much the same manner as umbrella liability insurance for nonmarine risks. Coverages may be provided ...
Savings accounts that have tax advantages combined with health insurance plans for the benefit of the employee. Both the employee and the employer are permitted to contribute to the MSA. ...
Coverage in the event that property is damaged or destroyed so that an insured cannot use the property for its intended purpose. For example, loss of use of a drill press because of ...
Cost of an annuity. Annuities are often paid for in a lump sum rather than annual or other periodic payments. This sum, which guarantees an income, usually for life, is called the purchase ...
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