Transfer Payments
Redistribution of wealth by taking money from one group of individuals and allocating that sum to another group of individuals, social insurance is such a mechanism, since the high-income group of individuals will pay proportionately more in Social Security taxes and receive proportionately less in retirement income benefits than the low-income group of individuals.
Popular Insurance Terms
Insurance policy for which the required premium has been paid. ...
Traditional HMO made up of physicians who are salaried by the HMO. These physicians treat solely HMO members who are covered only if they use HMO physicians and hospitals. ...
Same as term Excess of Loss Reinsurance: method whereby an insurer pays the amount of each claim for each risk up to a limit determined in advance and the reinsurer pays the amount of the ...
In life insurance, the exchange of a series of installment payments, as the result of an installment settlement, for a lump sum distribution. ...
Property insurance closely associated with fire insurance and usually purchased in conjunction with a Standard Fire Policy. Allied lines include data processing insurance, demolition ...
Risk management technique for shifting a corporation's exposure from itself. A risk manager looks at many alternatives to insurance to limit the risks a business firm faces. One transfer ...
States that preclude the placement of surplus lines with particular insurance companies. ...
Scheme to recapture excess pension assets by splitting a qualified plan in two, and terminating one of them. In the mid-1980s, many pension plans became "overfunded" because their ...
Roof used in construction that is composed of fire resistive materials such as slate as approved by the underwriters laboratories inc. (ul). ...
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