Supplemental Benefit Formula
Procedure in Social Security that sets the benefit level for a dependent of a retired or disabled person who is receiving Social Security benefits. For example, if a retired or disabled worker has a spouse over age 65, the spouse is entitled to a benefit that is 50% of that paid to the primary recipient. This benefit is also available to dependent children. Further, the spouse can elect to take a reduced benefit if he or she is between ages 62 and 65.
Popular Insurance Terms
Assets that are not readily convertible into cash 'without a significant loss of principle, such as an automobile, a house, television set, a radio, etc. ...
number of people born as a percentage of the total population in any given period of time. ...
Insurance company's total investments in financial securities. ...
a contract in life insurance that includes elements of whole life and term insurance. in pensions, a combined life insurance policy and a side (auxiliary) fund to enhance the amount of a ...
Retirement plan under which benefits are fixed in advance by formula, and contributions vary. The defined benefit plan can be expressed in either of two ways: Fixed Dollars: Unit benefit ...
Same as term Annual Policy: contract remaining in force for up to 12 months unless canceled earlier. After 12 months the policy can either be renewed or not renewed by the insurance company ...
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Chart showing rate of death at each age in terms of number of deaths per thousand. ...
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