Personal insurance method used to analyze the amount necessary to maintain a family in its customary life-style, should the primary wage earner die. This includes such considerations as:
immediate needs ("cleanup fund") expenses associated with final medical treatments and burial, inheritance taxes, estate taxes, probate costs, outstanding debt.
continued income while children are still in school and depend on family support.
continued income for the surviving spouse after children no longer depend on family support.
continued income to pay a mortgage, education expenses, emergency expenses, and miscellaneous expenses.
retirement fund for the surviving spouse.
From the sum of these expenses, subtract sources of income available to the surviving spouse (Social Security, investments, employee benefit plans such as group life insurance and pensions), to arrive at a final figure on which to base the amount of life insurance the wage earner should consider.
Department of Defense triple option managed health care program consisting of three options: Tricare Prime (health maintenance organization), Tricare Extra (preferred provider ...
Statistical approach stating that if a series of samples is taken from a stable population, the distribution of the means (averages) of these samples will form a normal distribution whose ...
Endorsement to a scheduled property floater that provides all risks protection for street clocks. Clocks and signs attached to business property can be covered under the Standard Fire ...
Type of premium plan under which the employer (if noncontributory plan) or the employer and employee (if contributory plan) make level annual premium payments to fund the future retirement ...
System of classifying face amount of policies according to size within a given range. The premium rate per $1,000 of face amount varies on a declining basis. As the face amount increases, ...
Ratio of the insurance company's investment in common stocks dividend to its adjusted surplus account. This ratio shows how vulnerable the company's surplus is to the stock market ...
A principle of insurance which provides that when a loss occurs, the insured should be restored to the approximate financial condition occupied before the loss occurred, no better no worse. ...
Insurance will cover any homemade or custom-built system, but you will need to have proof of ownership of each of the individual parts within the computer to file a claim. ...
You might think, \"Why do I need insurance, I\'m renting?\" Well, even though your landlord probably has an insurance policy on your building, you\'ll need to protect your personal ...
You need an insurance policy that is tailored in your needs in mind. Take liability for example. Guest passenger liability helps protect you bodily injury to a passenger on your motorcycle ...
Liability Coverage: In case you're sued as a result of an auto accident. Collision Coverage: Helps cover physical damage to your vehicle due to collision or upset. Comprehensive Coverage: ...
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 ...
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.
...
First of all, you need to understand the different types of life insurance and what each type of life insurance covers. Life insurance is very important and purchasing one is in both yours ...
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