Vested Benefit
Definition of "Vested benefit"
Entitlement of a participant in an employee benefit insurance plan to receive benefits regardless of his or her employment status.
Popular Insurance Terms
Holding of property, or otherwise acting on behalf of another in trust. The fiduciary must exercise due care in safeguarding property left under personal care, custody, and control. ...
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Premise that, out of a large group of people, a given number will die each year (conversely, a given number will remain alive each year) until all the people in that original group are ...
Unit of the life office management association (LOMA), which prepares and administers educational materials for the Fellow Life Management Institute (FLMI) Program. Upon successful ...
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Arrangement by an employer in which employees share in profits of the business. To be a qualified plan, a predetermined formula must be used to determine contributions to the plan and ...
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