Maturity Value

Situation in which insurance benefits exceed the actual loss of an insured. Overinsurance can be a problem for the insurer because it may tempt the insured to make a false claim in order to ...

Dollar limitations under the Internal Revenue Service code as follows: The elective annual deferral limit is $10,000. A highly compensated employee's annual compensation limit is $80,000. ...

Life insurance that pays the balance of a mortgage if the mortgagor (insured) dies. Coverage is usually in the form of decreasing term insurance, with the amount of coverage decreasing as ...

in property and casualty insurance, termination of a policy because of failure to pay a renewal premium. in life insurance, termination of a policy because of failure to pay a premium and ...

Strategy that provides that all income from assets in trust be paid at least annually for the life of the surviving spouse. This trust, which prohibits transfer of any assets to anyone ...

Central fund into which employees contribute untaxed earnings to pay for the insurance premiums and uninsured medical costs. When the employee submits evidence of unreimbursed medical ...

Single policy on the insured's property for: two or more different kinds of property in the same location; same kind of property in two or more locations; two or more different kinds of ...

Modified collateral split dollar life insurance plan under which the employee purchases and owns a life insurance policy on the employee's own life. The employer makes the unscheduled ...

You need separate coverage for the variety of risks you face when storing, launching, hauling or running your seaworthy vessel. Boats, and other watercrafts can be large investments, and ...

Commercial insurance is designed to help protect many of the risks your business can face, including: - Damage or destruction to your business vehicles. - Certain liability ...

Provides financial protection for a limited, specified period of time, at a lower cost than permanent life insurance. ...

Every person has a different idea of what financial security means. If so, should happen to you, how much money would you family need? You should consider: - Your current debt. ...

General Liability Coverage includes: Bodily Injury Liability Coverage: Help protect you in case injuries occur to other people resulting from your operations. Property Damage ...

Universal life insurance provides death benefits and income taxe-deferred savings to help you meet your financial goals while you are living. It has many flexible features and benefits that ...

A group plan in one that is sponsored by an employer, association or other organization, as opposed to an individual or family. With the employee given the option to include other family ...

Loss of luggage Loss of travel documents Cancellation and lost deposit expenses Medical expenses: including overseas Death Burial and transport expenses Liability coverage if ...