Negotiated Contribution Plan

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 ...

Depending upon the coverage being applied. Review the policy provision with your agent for additional information. ...

A CD, or Certificate of Deposit, is an investment usually made for a given period of time at a fixed rate of interest. CDs are offered by financial institutions such as banks, and are often ...

An HMO provides comprehensive health services to its members for a prepaid fixed fee, equivalent to an insurance premium. A PPO differs from an HMO in that the PPO has no separate physical ...

If you live in an Earthquake zone. Yes! Typically most homeowners insurance insurance coverage would apply as rider. If it is not available under your homeowners insurance you will need to ...

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 ...

Over 90% of all presidential-declared disasters in the United States are flood related. Leveling forests, overbuilding the land, and increasing use of asphalt all reduce the soil\'s natural ...

Health insurance also known as .disability insurance. is insurance of human beings against bodily injury, disablement, or death by accident or accidental means. ...

An annuity is a long-term, interest-paying contract offered through an insurance company or financial institution. An annuity can be \"deferred\" as a means of accumulating income while ...