Small Business Protection Act
Act passed in 1996 that includes: an increase in the amount a nonworking spouse can contribute to an INDIVIDUAL RETIREMENT ACCOUNT (IRA) increased from $250 to $2000; creation of the SAVINGS INCENTIVE MATCH PLAN FOR EMPLOYEES (SIMPLE PLANS); the stipulation that, for the person covered under a QUALIFIED PENSION PLAN who is age 10'A and has not retired, that person is not requiredto begin minimum distributions from that plan until April 1 of the year following the year in which he or she retires.
Popular Insurance Terms
Coverage in the event a safe of a business is forceably entered, either on or off the premises, and property is stolen from the safe. Also covered is damage to the premises during actual or ...
State laws that prohibit for an unreasonable period of time the accumulation of income under the option modes of settlement of a life insurance policy unless the beneficiary of the policy ...
Actions not allowed between a trust and a disqualified person under the employee retirement income security act of 1974 (erisa). The disallowed actions are designed to prevent a conflict of ...
Prepaid group health insurance plan that entitles members to services of participating physicians, hospitals, and clinics. Emphasis is on preventive medicine. Members of the HMO pay a flat ...
Package coverage for a dwelling and its contents, barns, stables, and other land structures as well as liability coverage. By means of a number of special forms that follow the format of ...
Provision found in property and liability insurance policies that mandates that the insured notify the insurance company as soon as possible following the occurrence of a covered loss under ...
Holding of property, or otherwise acting on behalf of another in trust. The fiduciary must exercise due care in safeguarding property left under personal care, custody, and control. ...
Same as term Date of Issue: date when an insurance company issues a policy. This date may be different from the date the insurance becomes effective. ...
One who submits a claim for an incurred loss. ...
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