Voluntary Payroll Deduction Plan

Definition of "Voluntary payroll deduction plan"

Program through which employees purchase individual life insurance and disability income insurance by having the employer reduce their income by the required insurance premium. Since the policies are individual policies, paid for totally by the employees, the policies are portable and not a function of employment.

Search Real Estate Glossary

Related Real Estate Glossary terms

Smoke Clause

Provision in the extended coverage endorsement stating that smoke damage is covered when it results ...

Tax Deferred Annuity (tda)

Retirement vehicle permitted under section 403 (b) plan of the U.S. Internal Revenue Code for employ ...

Jones Act (merchant Marine Act)

Federal law passed in 1920 that allows any seaman incurring bodily injury as the result of the perfo ...

Cargo Liability Insurance

Same as term Cargo Insurance: shipper's policies covering one cargo exposure or all cargo exposures ...

Flexible Premium Life Insurance

Policy that has an initial premium with flexible premiums thereafter. Within limits, a policy owner ...

Housing And Urban Development Department (HUD)

Created by Congress in 1965, the U.S. HUD is the agency principally responsible for federal programs ...

Related Real Estate FAQ

What Is A Sales Contract?

A sales contract is the contract you draw up when you want to make an offer on a home. ...

What Should I Do If I'm In An Accident?

1.- Stay Calm. Determine the injuries and or damage. 2.- Call the police. File an accident report ...

What Is Flood Insurance?

Flood insurance is insurance that compensates for the physical property damage resulting from rising ...

What Are The Benefits Of Liability Insurance?

General Liability Coverage includes: Bodily Injury Liability Coverage: Help protect you in case ...

What Happens When You Prequalify?

When you are prequalified, the lender gives you an estimate but does not formally commit to giving y ...

What Do I Need To Know About Business Insurance?

Commercial insurance is designed to help protect many of the risks your business can face, including ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

Real Estate Open House - The Dos and Don 5 U.S. Cities with the Best Public Transportation 7 Tips for a First Time Homebuyer How To Get A Loan with Bad Credit What Costs Do Buyers and Sellers Pay On Big Day When Escrow Closes?

FAQ

What is the difference between a real estate broker and a real estate agent? Do I need Life Insurance? What if the computer I want to insure is homemade or custom-built? What is a sales contract? How Much Can I Afford ?