Pooled Income Funds
Separate trust established by a charitable entity whose purpose is to receive contributions from numerous donors. All the donors' contributions are commingled. Each donor can retain a life-income interest in the donation. The donor's income payment is based on the number of units of participation calculated at the time the donation is made and the value of each unit. The value of each unit in turn is determined by the investment performance of the commingled funds.
Popular Insurance Terms
Maximum amount that an insurance company is obligated to pay all injured parties seeking recourse as the result of the occurrence of an event covered under a liability insurance pol ...
Premiums paid out of funds borrowed from the cash value of a life insurance policy. ...
Insurance in which most of the premium (generally 80 to 90%) is invested in traditional fixed income securities. The remainder of the premium is invested in call option contracts tied to a ...
Record of losses, whether or not insured. This record is used in predicting future losses and in developing premium rates based on expectation of insured losses. ...
Written notice to an insured showing date of termination of an insurance 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 ...
Policy designed to act as a supplement to Medicare. The supplementation is in the form of additional benefits to that provided by Medicare. The additional benefits are in the form of ...
Life insurance on the life of a child. ...
Life insurance company form to be signed by a policyholder who wishes to surrender a policy that has been lost. The signed receipt then becomes evidence that the policy is no longer in ...
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