Power Of Attorney
Legal instrument whereby an individual is given the right to act on behalf of another individual. For example, the right to buy and sell stock and to sign all brokerage papers relating to buying and selling in a stockholder's account is given by the stockholder to another individual through power of attorney. Or the right to decide which settlement option is to be used under a life insurance policy may be given by a policy owner to another individual. Experts often advise extreme care in assigning a power of attorney since that person becomes free to make financial decisions that can enhance or ruin an individual represented.
Popular Insurance Terms
Interest earned but not yet paid for a period of time that has elapsed since the last interest payment. ...
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difference between the face value of a permanent life insurance policy and its accrued cash value. The pure cost of protection is based on this difference. For example, if the face value ...
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Investment risk associated with the possibility that there is a rise in the interest rates after a fixed income security has been purchased resulting in a decline in that security's price. ...
Legislation by a state that taxes out-of-state insurance companies operating in its jurisdiction in the same way that the state's own insurance companies are taxed in the second state. For ...
Right of an insured to make additional purchases of life insurance without having to take a physical examination or show other evidence of insurability. Additions can be bought at stated ...
Plan to control employer's health care cost through the introduction of practice guidelines or protocols for health care providers, and to improve the methods used by employers and ...
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