Unemployment Compensation
Definition of "Unemployment compensation"
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 states, which decide the level of benefits that will be paid and assess a payroll tax on employers to pay for the program. Employers may pay more or less tax depending on the stability of their workforces. Weekly benefits vary widely among the states.
Popular Insurance Terms
Rating method for commercial fire insurance according to a predetermined schedule. Published by A. F. Dean in 1902, this method was the first comprehensive qualitative analysis procedure to ...
Maximum that an insurance company can underwrite. The limits of coverage that a property and casualty company can underwrite are determined by its retained earnings and invested capital. ...
Retirement plan for an individual based on a single contract with a benefit based on current earnings, as if they will remain static until normal retirement age. As the earnings of the plan ...
Insurance company's net investment income divided by its invested assets. The greater the yield, the better the investments that are being made. ...
Person who transfers rights under an insurance or mortgage contract. ...
Law that established rules and regulations to govern private pension plans, including vesting requirements, funding mechanisms, and general plan design and descriptions. For example, three ...
Legal recourse available to survivors of a person who suffers a wrongful death. Under common law, only an injured person had the right to sue for damages. If a wrongfully injured person ...
Business involved in buying and selling securities and mutual funds. ...
Endowment period of time, in life insurance, at which the face amount of the policy is payable to the insured. ...
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