Aggregate Level Cost Method
Definition of "Aggregate level cost method"
Actuarial method of calculating benefits and their costs for all the employees as a group rather than for each individual employee. The costs of the benefits are measured in the form of a percentage of the total payroll for the employee group.
Popular Insurance Terms
Lowest acceptable criteria that a risk must meet in order to be insurable. For example, life insurance companies require an applicant for individual (nongroup) coverages to be free of ...
That which adjoins. Most property insurance policies such as the homeowners insurance policy provide structural coverage on an adjacent building on the same basis as the primary building. ...
Coverage on a single shipment of property while in temporary storage or in transit. This policy is most commonly used in moving of household goods, which are covered from the time they are ...
Insurance for private pleasure boats. Coverage is not standard, but is generally broken down into insurance for yachts, including sailboats; boats with inboard motors under marine ...
Trust established under the auspices of the Internal Revenue Code that permits the maintenance of a separate account within the employer's defined benefit pension plan from which to pay the ...
Life insurance distribution system under which the state underwrites and sells life insurance to any resident of Wisconsin who makes application. ...
Contractor's and Architect's Errors and Omissions Insurance, which also serves as a general liability policy for these professionals. ...
Feature of life and health insurance policies that stipulates that the policy represents the whole agreement between the insurance company and the insured, and that there are no other ...
Coverage that can be converted into permanent insurance regardless of an insured's physical condition and without a medical examination. The individual cannot be denied coverage or charged ...
Have a question or comment?
We're here to help.