Presumptive Disability
Assumption of total disability when an insured loses sight, hearing, speech, or a limb. When such a loss occurs to an insured with disability income insurance, the insurer often assumes that the individual is disabled, even if he or she later returns to work. Here insurers may pay a lump sum in addition to monthly disability payments for the maximum benefit period set by the policy.
Popular Insurance Terms
Coverage for suits brought by a plaintiff as the result of bodily injury incurred while using an elevator on the insured's premises. ...
Coverage on more than one person that pays a benefit after all of the insureds die. This type of joint life policy is significantly cheaper than a regular policy. Survivorship life ...
Sum received by an insurance company at the sale of its stock. This capital represents the interest of the stockholders in the company. ...
Policies that have been sold to and paid for by an insured, but not yet delivered to the insured. ...
Maximum amount that an insurance company will pay under a liability insurance policy for claims resulting from a particular accident. This maximum amount applies regardless of the amount of ...
Coverage that guarantees that the executor or administrator of an estate will conduct his or her duties according to the provisions of the will and the legal requirements of the ...
New pension-accounting rule created by the Financial Accounting Standards Board. The objective of this rule is to clarify pension accounting so that investors, employers, and employees will ...
Interest of a beneficiary in the proceeds of a survivorship annuity. ...
Experience as it relates to the annual costs associated with a pension plan. In calculating premiums due under a pension plan, basic assumptions must be made concerning future loss ...
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