Definition of "Tax lien"
Claim against property for payment of taxes. Life insurance proceeds and annuity benefits are protected against certain creditors of the insured, but the federal government is not one of them. Thus life insurance and annuity benefits can be held liable if the federal government has a tax lien against the insured.
Popular Insurance Terms
Money paid through state and federal programs to workers who are temporarily unemployed. The program, which was created by the social security act of 1935, is managed by the individual ...
Pension plan that allows an employee to contribute by electing to have money deducted from each paycheck. Some qualified plans such as 401 (k) allow employees to contribute pre-tax dollars, ...
Condition characterized by illnesses indicative of reduced immune respon ...
Placement of verbal descriptive information into numerical form for the purposes of analysis. ...
Beneficiary's choice, in a life insurance policy or annuity, for receiving income payments for a given period of time. The number of payments are fixed by the payee; the benefit amount is ...
Additions of new entrants into an employee benefit insurance plan. ...
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Applications for insurance coverage that have been forwarded to an insurer but not yet processed. ...
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