Pension Plan Termination Insurance
Coverage provided by the pension benefit guaranty corporation (pbgc) that guarantees participants a certain level of pension benefits even if the plan terminates without assets. The PBGC was authorized under the employee retirement income security act of 1974 (erisa). The insurance, paid for by employers, protects vested interest only.
Popular Insurance Terms
Assistance program for the financially needy. Medicaid, also referred to as Title XIX of the Social Security Act, was enacted in 1965 at the same time as medicare. It is a joint ...
Product or service that does more harm than good to society, or endangers life or health. Society would probably be better off without such a product or service. ...
Death benefit option in which a beneficiary of a life insurance policy receives the death benefit as a single sum payment instead of installments. ...
Signed receipt by policyowner acknowledging that policyowner is in possession of the policy. ...
Provision of the 1987 Tax Act that excludes life insurance owned by a third party or an irrevocable trust from federal estate taxes. Life insurance, as well as the deceased's personal ...
Provision in corporate life insurance policies that allows coverage to be transferred to a new individual with proof of insurability, for a premium appropriate to the age of the new ...
Financial instruments whose principal and income are established in advance according to contractual terms set forth in the financial instrument's document. Examples of such investments ...
Protection under the auspices of the federal government where such insurance cannot be purchased by a homeowner, business owner, or tenant at affordable community rates. A homeowner's or ...
Coverage for bodily injury and property damage liability resulting from the ownership, use, and/or maintenance of an insured business's premises as well as operations by the business ...
Have a question or comment?
We're here to help.