Retirement Age
Definition of "Retirement age"
Age at which a pension plan participant is entitled to receive retirement benefits, or point at which retirement benefits are payable: normal retirement age is the earliest age permitted to retire and receive full benefits; early retirement is earlier-than-normal age permitted to retire provided attained minimum age and service requirement are met, but there is a proportionate reduction in benefits: deferred retirement age beyond automatic retirement age permitted to retire, usually with no increase in benefits; automatic retirement age is age at which retirement is automatically effective.
Popular Insurance Terms
Billing by an administering agency for expenses associated with administering a group employee benefit plan. ...
Organization that develops and publishes educational material and administers national examinations in supervisory management, general insurance, claims, management, risk management, ...
Part of a marine cargo policy that exempts the policyholder from vouching for the seaworthiness of the vessel. For example, while a purchaser of hull marine insurance warrants that a ship ...
Coverage for goods in transit and the vehicles of transportation on waterways, land, and air. ...
Section of a life insurance policy setting the procedure for revoking a current beneficiary and designating a successor beneficiary. Insurers require written notice of a beneficiary change, ...
Feature of life and health insurance policies that stipulates that the policy represents the whole agreement between the insurance company and the insured, and that there are no other ...
Same as term Participating Policy Dividend: life insurance contract that pays its owner dividends, which can be: taken as cash; applied to reduce a premium; applied to purchase an ...
Legislation that redefined life insurance and raised taxes on life insurance companies. Among the provisions were new rules for some life insurance products, including a definition of ...
Insured peril in some property insurance policies that encompasses any accidental damage to insured property while being removed to safety from the immediate threat of damage by another ...
Have a question or comment?
We're here to help.