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
An act or violation that consists of two wrongs: tort negligent act or omission by one or more parties against the person or property or another party or parties, liability insurance is ...
Life is unpredictable so to compensate this, people have invented insurance. Insurance deals with unforeseen events. Sometimes insurance companies cover only a part of your losses and a few ...
Acquisition and employment of assets in order to maximize the return on these assets through: establishment of financial planning objectives; development of financial plans by which these ...
Policy that has an initial premium with flexible premiums thereafter. Within limits, a policy owner can select both the future amount and frequency of premiums, or can stop and start ...
The definition of special acceptance explains how two insurance institutions work together for the benefit of the masses. In order to define what special acceptance means, we must ...
Type of guaranteed insurance contract in which the term is fixed, the rate is fixed, and the contract owner does not participate in the insurance company's earnings. ...
Historical mortality table that replaced the annuity table, 1949, used for the calculation of annuity rates with more-current mortality experience at that time. This table was subsequently ...
Value in life insurance policies that entitle the insured to these choices: to relinquish the policy for its CASH SURRENDER VALUE. (Note that in the beginning years the cash value may be ...
Coverage tailored to the particular requirements of an insured, when a standard policy cannot be used to provide coverage for real or personal property. A manuscript policy is often written ...
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