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
Deductible amount between a basic health insurance plan and major medical insurance. ...
Any of a number of types of surety bonds that the law requires of government contractors, licensed businesses, litigants, fiduciaries, government officials, and others whose performance of ...
Agency formed as the result of bank failures in the 1930s to insure the deposits of customers of member banks. The FDIC, an agency of the federal government, is self-supporting in that it ...
Automatic right of an insured to renew a policy until a given date or age except under stated conditions. It is extremely important for the purchaser to review the conditions for renewal in ...
Individual responsible for insurance agency operation in a particular area, including sale of life and health insurance, servicing policies already sold, recruiting and training agents, and ...
Shipper's policies covering one cargo exposure or all cargo exposures by sea on all risks basis. Exclusions include war, nuclear disaster, wear and tear, dampness, mold, losses due to delay ...
Woman executor. ...
Amount credited to the cash value of an insured's life insurance policy above the minimum interest rate it guarantees. This payment is of extreme importance to a policyowner since it will ...
Figure in a mortality table derived by dividing the number of people dying during a given year by the number of people alive at the beginning of that same year. ...
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