Uniform Gifts To Minors Act
Definition of "Uniform gifts to minors act"
Act in which an irrevocable gift is made by the parent to the child. For children less than age 14, the first $600 of annual investment earnings is tax free and the next $600 is taxed at the child's 15% tax rate. If the child is at least age 14, all income is taxed at the child's rate. Once the child reaches the age of majority, which in most states is 18 or 21, the child can use the money in that account as desired.
Popular Insurance Terms
Policy that combines life insurance coverage on two lives and pays policy proceeds on the second person's death with the accumulation potential of an underlying variable investment ...
Total amount of insurance on an insurer's books at a particular time. ...
Special policy blank issued by an insured for individual shipments or other purposes under an open policy. The open policy allows an insured to buy protection for all marine business for an ...
A procedure in which the employer has absolute liability for the injuries incurred by the employee and the employee does not have the right to sue the employer for those injuries suffered. ...
Coverage through an endorsement to the glass insurance policy on an all risks basis, subject to the exclusions of wear and tear, and damage caused by nuclear hazard, war, and electricity. ...
Academic publication of the American risk and insurance association in which articles deal with aspects of risk, insurance, and allied fields of study. ...
Protection under an insurance policy. In property insurance, coverage lists perils insured against, properties covered, locations covered, individuals insured, and the limits of ...
Form whose purpose it is to help the agent and the prospective policyowner judge the validity of the insurance company's policy illustrations. This questionnaire's focus is on the ...
Percentage of income required by a retiree to maintain a desired standard of living during the retirement years. ...
Have a question or comment?
We're here to help.