Definition of "Accrue"
To accumulate. For example, under one of the dividend options of a participating life insurance policy, dividends can accumulate at interest by leaving them with the insurance company; cash values of life insurance accumulate at a given rate; employee retirement credits for pension benefits accumulate at a stipulated rate.
Popular Insurance Terms
clause found in health insurance contracts that requires the insured to pay a specified percentage of the covered health care expenses. ...
Plan under which an employee may make a rollover contribution. If that contribution is from a qualified trust, the employee may make rollover contributions to an employer's qualified trust, ...
basic feature of the social security act under which benefits paid are associated with the employee's earnings that have been taxed during the employment period. ...
Up to 1986, arrangement to provide a personal trust while the settlor is still alive. The income is paid to named children, who enjoy lower income taxes. After 10 years and a day, the ...
Provides coverage during the construction of a bridge in the event of fire, lightning, collision, flood, rising water, windstorm, ice, explosion, and earthquake. This coverage is essential, ...
Privately formed insurance company whose objective is to make a profit. ...
Legislation that provides support for legal actions against individuals or organizations involved in systematic illegal activities. This act has been applied against insurance organizations ...
Arrangement by which the insured agrees to incur a given degree of variability in the ultimate total costs associated with financing its losses. ...
Income paid under health insurance for loss of use of various parts of the body due to an accident. A schedule of benefits available in a policy lists payments for each part of the body ...
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