Salary Continuation Plan


Definition of "Salary continuation plan"

Renee Saban
Renee Saban Coldwell Banker Honig-Bell

Arrangement, often funded by life insurance, to continue an employee's salary in the form of payments to a beneficiary for a certain period after the employee's death. The employer itself may be the beneficiary, collecting the death benefit and making payments to the employee's beneficiary.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

 

Popular Real Estate Terms

Key Employees, Insurance Plans For

Typical non qualified plans of life insurance for key employees include: permanent life insurance dividends generated by the policy are used to pay t ...

Severity Rate

Size of the losses used as a factor in calculating premium rates. For example, the U.S. Bureau of Labor Statistics studies the number of days lost by ...

State Disability Plan

Account established and administered by a state agency to finance a mandatory state insurance program for job-related injuries or to finance a non-job ...

Jacket

Outer covering containing an insurance policy; in many instances it lists provisions common to several types of policies. ...

Retainer Clause

Provision in a nonproportional reinsurance contract that the reinsurance will protect only the business retained by the cedent for its own account. In ...

Amendment

Provisions added to an original insurance policy that alter or modify benefits and coverages of the contract. For example, a homeowners insurance pol ...

Popular Real Estate FAQ

What Do I Need To Know About Motorcycle Insurance?

You need an insurance policy that is tailored in your needs in mind. Take liability for example. Guest passenger liability helps protect you bodily in ...

What Do I Need To Know About RV Insurance?

Your motor home can be both your transportation and your home away from home. So like your auto and your home, you need to safeguard it with the prope ...

What Do I Need To Know About Watercraft Insurance?

You need separate coverage for the variety of risks you face when storing, launching, hauling or running your seaworthy vessel. Boats, and other water ...

What Do I Need To Know About Auto Insurance?

Choosing the auto insurance requires consideration of manyfactors- Take into account everything you own and the reasons to protect them. The year of ...

What Should I Do If I'm In An Accident?

1.- Stay Calm. Determine the injuries and or damage. 2.- Call the police. File an accident report and obtain medical assistance if needed. 3.- L ...

How Do I File An Insurance Claim?

Call your Insurance agent or Insurance Company \"Claims Hotline\" as soon as possible. Getting your agent\'s help, may speed things along. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Luxury Real Estate Forecast Furnished Rental Tips for Real Estate Investors How to Buy a House Quickly What is a Credit Score and How Does it Impact Real Estate? The Ugly Truth About Open Houses

FAQ

What is Freddie Mac? What are paid advertorials? What is a mortgage banker? What do I need to know about Group Health Insurance? What are jumbo mortgages?