Multiemployer Plan
Pension or other employee benefit to cover employees at two or more financially unrelated companies. The companies may employ workers from the same labor union or those in the same industry. Employer contributions go into a common pool from which benefits are paid. Employees may transfer between employers in the fund and still retain their benefits. Multiemployer plans have grown rapidly in recent years as smaller employers band together to provide pension benefits to employees.
Popular Insurance Terms
Irrevocable trust into which the grantor places assets and retains the income from or the use of these assets for a stipulated period of time. At the termination of this time period, the ...
Trust in which assets are controlled through several generations and makes use of generation-skipping tax exemption. ...
Coverage of a single life, in contrast to group life insurance, which covers many lives. ...
State of anxiety and distress. One goal of adequate insurance is to eliminate, or alleviate, worry on the part of a policyholder. Many people, for example, are concerned that they would not ...
Effort of a poor risk to seek insurance coverage. The onset of a health problem such as heart disease, for example, may prompt a person to apply for life insurance before seeking medical ...
Health insurance plan where a group of physicians and dentists provide medical services to a group of individuals for a predetermined fee. It is a basic type of HEALTH MAINTENANCE ...
Sum it takes to replace an insured's damaged or destroyed property with one of like kind and quality, equivalent to the actual cash value, minus physical depreciation (fair wear and tear) ...
Coverage for damage or destruction of property with relatively high monetary value, such as stock brokerage house and bank shipments, which involve the transfer of securities and monies to ...
Periodic payments to an annuitant. ...
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