Pension Plan Funding: Individual Contract Pension Plan
Retirement plan for an individual based on a single contract with a benefit based on current earnings, as if they will remain static until normal retirement age. As the earnings of the plan participant increase, additional contracts are purchased (with an increase in the contributions to the plan). The amount of retirement benefits depends on the benefit formula used and the investment experience of the company underwriting the plan.
Popular Insurance Terms
Specific values of securities computed annually by the national association of insurance commissioners (NAIC) as guidelines and procedures for insurance companies in listing of their ...
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Physician who conducts physicals of applicants for life and/or health insurance. This physician is selected by the insurance company at its expense. ...
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