Q Schedule
Definition of "Q schedule"
SCHEDULE provision of the new York insurance code and regulations under which the life insurance company must file with the Insurance Commissioner all expenses associated with selling new life insurance policies; and a limit is set on expenses to acquire new business. The expense limitation serves to restrict agent commissions in New York State. This is one important reason why many national insurance companies do not sell life insurance in New York, or why some organize subsidiary companies for the sole purpose of conducting life insurance business only in New York. Many life insurance companies feel the expense limitation too restrictive to attract brokerage business.
Popular Insurance Terms
Account in which the same interest rate is credited on all premiums regardless of the time period and amount contributed. ...
Means of paying the cost of benefits of pension plan participants including retirement, death, and disability. ...
Employee benefit plans under which both the employee and the employer pay part of the premium. Contribution ratios vary. For example, an employer contributes two dollars for every dollar ...
Massachusetts commissioner of insurance responsible for the passage of legislation (1861) that guaranteed policy owners of that state equity in the cash value of their life insurance. The ...
Non qualified plan of deferred compensation whose goal is to compensate key employees without having to provide similar benefits to rank and file employees. The trust is irrevocable, and ...
Life insurance payment that is constant from year to year. The premium may be paid throughout the life of an insured or may be limited to a maximum number, such as 30 annual premiums. The ...
Reduction in the amount that the insured receives from the insurer, after having incurred a property loss, because the insurer failed to carry the amount of coverage required by the ...
Exemption in ocean marine policy for losses caused by strikes, riots, and civil commotion. ...
Policies that have been sold to and paid for by an insured, but not yet delivered to the insured. ...
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