S Corporations
Corporations that have elected to be taxed according to the provisions of Sub chapter S of the Internal Revenue Code. In order to qualify under these provisions, the corporation can have only one class of stock. By so qualifying, tax is eliminated at the corporate level and the shareholders are taxed on their proportionate share of the corporation's profit. This is important because currently the highest individual income tax rate is lower than the highest corporate income tax rate.
Popular Insurance Terms
Termination of life. A death certificate is required by a life insurance company for a beneficiary to receive the death payment. ...
Intentional damage or destruction of another person or business's property. Insurance can be purchased by the owner of the property to protect against this exposure. ...
Insurance company formed according to the legal requirements of a foreign country. In order for an alien insurer to be able to carry on general operations and sell its products in a ...
Actual amount of total losses paid by an insurance company during a specified time interval. ...
Life insurance policy in which the cash value and in some circumstances the death benefit will vary according to the investment performance of an underlying portfolio usually comprised of ...
Sum of money paid on the principal amount of money invested or loaned. ...
A form of assessment insurance for which a regular premium is charged. In addition to paying the regular stipulated premium, an insured and other members of a mutual assessment company may ...
Statistical term indicating the central value of a frequency distribution, such that smaller and greater values than this central value occur at an equal rate. For example, given the ...
Agreement in which the insurer promises to renew the policy provided certain conditions have been met by the insured. ...
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