Definition of "Spinout"
Method of terminating a split dollar life insurance policy in which the company transfers its interest in the life insurance policy to the insured employee. Through such a transfer, the insured employee incurs a tax liability on the policy's transferred value.
Popular Insurance Terms
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Model state law of the NAIC that requires that the insurance policy contain language that meets a readability test (usually, the Flesch readability test that uses a formula approach to ...
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Mandatory age of retirement. ...
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