Remainder Interests In A Residence Or Farm
Charitable planning strategy under which a donor transfers title to his or her residence or farm to the charity. Upon transfer of title, the donor reserves the right to occupy the property as well as enjoy all the other benefits of property ownership for life, for a specified number of years, or for the life of a given number of tenants. A partial donation of the property may be made; the property does not have to be donated as a whole unit.
Popular Insurance Terms
Same as term Automobile Assigned Risk Insurance Plan: coverage in which individuals who cannot obtain conventional automobile liability insurance, usually because of adverse driving ...
Section of an insurance company that evaluates claims for their subsequent payment. ...
Common exclusion in life and accidental death insurance (double indemnity) policies, indicating that coverage does not apply unless an insured is a passenger on a regularly scheduled ...
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 ...
Provision of a reinsurance contract that states that the reinsurance company remains liable for its predetermined share of a claim submitted by an insured, even though the primary insurance ...
Employee benefit program that emphasizes the pursuit of a lifestyle that minimizes the occurrence of sickness through an organized program of preventive medicine. Such a program includes ...
Type of pension in which benefits may vary depending on the investment performance of the pension plan assets. Contributions are made to fund a target benefit, such as 35% of compensation, ...
Type of livestock insurance that covers for cattle and sheep on the range from October 1 to May 1 in the Western states. Perils insured against are the weather, including freezing; most ...
12-month period from the date of issue of a policy as stated in its declarations section. ...
Have a question or comment?
We're here to help.