Public Law 87-311
Definition of "Public law 87-311"
1961 federal legislation that allows the U.S. Export-Import Bank to set up insurance protection for U.S. exporters against credit risk and political risk in order to help make U.S. exports more competitive and bolster the U.S. trade balance. The Foreign Credit Insurance Association oversees the insurance program, which is written by private insurers.
Popular Insurance Terms
Group whole life insurance policy designed to reduce an employee's exposure to income tax on the value of life insurance provided by the employer. The policy separates the term element from ...
Same as term Captive Agent: representative of a single insurer or fleet of insurers who is obliged to submit business only to that company, or at the very minimum, give that company first ...
Approach advocated by the Federal Trade Commission (FTC) in its 1979 life insurance cost disclosure report. It calculates the rate of return earned by the savings element of a life ...
Situation wherein the agent's conduct causes a client or prospective insured reasonably to believe that the agent has the authority to sell an insurance policy and contract on behalf of the ...
Legislation that provides for the inclusion in the estate of the decedent of lifetime transfers that involve a retained life interest in the following manner: decedent sells or gives to ...
Federal statute that permits the self-employed a 100% tax deduction for the family health care expenses to include health insurance premiums, disability INCOME insurance premiums, and ...
Essential part of an insurance policy. It names the individual (s) covered, property and locations covered, perils covered, the time a policy goes into force, and its termination date. ...
Requirement that a retired worker can have annual earnings of no more than a stipulated amount in order to receive a full retirement income under Social Security if under age 70. There is a ...
Method of reducing an employee pension according to IRS procedures: Offset method restricted to a DEFINED BENEFIT PLAN under which a mandatory percentage of the monthly Social Security ...
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