The term ad valorem comes from Latin, and its literal translation is “according to value”, which makes the ad valorem tax definition easy to understand. Defining ad valorem tax accounts tax levied in proportion to the value of the property being taxed either on the value when the purchas...

a contract in life insurance that includes elements of whole life and term insurance. in pensions, a combined life insurance policy and a side (auxiliary) fund to enhance the amount of a future pension. in automobile insurance, different coverages using policies of two more insurance companies (r...

In cash value life insurance policies, provision that allows the insurance company to refuse the policyholder a loan on the cash value for a period of time, usually up to 6 months, from the request date. The only exception is for premium payments due on the policy....

Day-to-day care that a patient (generally older than 65) receives in a nursing facility or in his or her residence following an illness or injury, or in old age, such that the patient can no longer perform at least two of the five basic activities of daily living: walking, eating, dressing, using th...