Legal Expense Insurance
Prepaid legal insurance coverage plan sold on a group basis. Entitles a group member to a schedule of benefits, at a stipulated premium, for adoptions, probates, divorces, and other legal services. This emerging employee benefit has had wide acceptance in some localities but limited acceptance elsewhere. After scheduled benefits have been exhausted, subsequent legal fees are usually based on the attorney's customary rate. For example, a prepaid legal insurance plan may provide only three legal consultations a year.
Popular Insurance Terms
Portion of reinsurance premium received by the reinsurer that relates to the unexpired part of the reinsured policy. ...
Income (premiums + investment earnings) minus disbursements (dividends + death claims + policies surrendered for benefits + general expenses). ...
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Federal agency that collects and analyzes numerous U.S. demographics used by government and industry. Insurance companies use the demographics to predict areas of high demand for their ...
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