Keogh Plan (hr-10)
Act first passed in 1962 that permits the self-employed individual to establish his or her own retirement plan. This individual can make nondeductible voluntary contributions and tax-deductible contributions subject to a maximum limit of 25% of earned income up to $30,000 for a defined contribution plan after the reduction for the contribution to the Keogh Plan. This is an equivalent rate of 20% of earned income prior to the contribution to the Keogh Plan.
Popular Insurance Terms
Same as term Underwriting Gain Loss): profit ( deficit) that remains after paying claims and expenses. Insurers generate profits from underwriting and from investment income. Their chief ...
new dividend option under which the policyowner allows the dividends from the participating policy to be applied for the purposes of accumulating cash values. ...
Fee paid to an agent as compensation for his or her collecting premiums for debit insurance (home service insurance, industrial insurance). ...
Coverage for an insured in the event that he writes and publishes libelous statements and the injured party brings suit against the insured. ...
Provision in marine insurance listing onshore perils covered. In the case of marine cargo, these may include such occurrences as damage from flooding, sprinklers, collapse of docks, and ...
Statement made by agent or broker in written form attesting to the insured that the insurance policy is in effect. This statement is prepared by the agent or broker, unlike the binder, ...
Provision found in property and liability insurance policies that mandates that the insured notify the insurance company as soon as possible following the occurrence of a covered loss under ...
Same as term Associate in Automation Management: professional designation earned after the successful completion of three national examinations given by the insurance institute of America ...
Forgery insurance covering securities issues such as stocks and bonds. They protect the issuer of securities against forgery of the securities. ...
Have a question or comment?
We're here to help.