Substantial Owner
Effective proprietor of a business. Under the tax reform act of 1986, a uniform accrual rule prevents a qualified pension plan from being weighted in favor of the substantial owner of the business. The owner can select the accrual method to be applied provided the same method is used for all qualified employees of the business.
Popular Insurance Terms
Government group that provides reinsurance for private insurers that write riot and civil commotion insurance. Riot losses in major cities in the 1960s caused insurers to stop writing this ...
Legislation that provided temporary rules for implementing the employee retirement income security act of 1974 (erisa). ...
A newer generation of life insurance policies that are credited with interest currently being earned by insurance companies on these policies. ...
That which adjoins. Most property insurance policies such as the homeowners insurance policy provide structural coverage on an adjacent building on the same basis as the primary building. ...
Financial instrument traded on the Chicago Board of Trade (CBOT). By purchasing this future, the insurance company can hedge its risk exposure against possible future catastrophic losses. ...
Trust established under the auspices of the Internal Revenue Code that permits the maintenance of a separate account within the employer's defined benefit pension plan from which to pay the ...
An exception to section 101 (a) (1) OF THE INTERNAL REVENUE CODE tax-exempt Status Of the DEATH BENEFIT in a life insurance policy where the transfer of the interest in the policy by the ...
Time interval during which policy is in force. ...
Option clause in a disability income policy that the insured can exercise that would permit the insured the right to purchase additional limits of coverage regardless of the insured's ...

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