Budget Deficit
Circumstance resulting when government expenditures exceed government income. To finance this difference, the United States Treasury will auction Treasury bills, notes, and bonds. In order to attract investors such as insurance companies, the Treasury will pay higher interest rates on the new issues, resulting in a decline in bond (already issued) prices and the increase in their rates.
Popular Insurance Terms
Direct payment to a new custodian for a retirement plan. This payment is not a taxable event since it is not a distribution. The payment must be between like plans; for example, one ...
Same as term Commutation Right: right of a beneficiary of a life insurance policy to exchange the future installments due that beneficiary for a lump sum distribution. ...
Type of flexible spending account. ...
Language in the insurance policy that can be considered unclear or subject to different interpretations. Under these circumstances, the courts have generally ruled in favor of insured ...
Publication stipulating underwriting rules applicable for a given line of insurance, classifications of exposures within that line of insurance, and premium rates per classification. For ...
Plan in which funds are currently allocated to purchase retirement benefits. An employee is thus assured of receiving retirement payments, even if the employer is no longer in business at ...
Sum total of all assets owned by the decedent to include personal property, real property, and trust property. ...
Bulletin issued June, 1993, with disclosure requirements that strongly suggest that insurance companies establish reserves or add to current reserves for asbestos and environmental risks to ...
Insurance company whose corporate charter and bylaws prevent assessment of its policyowners, regardless of how adverse its loss and expense experience may become. ...
Comments for Budget Deficit
My mother is 101 years old and receives Medicaid and also $756 in SS. She has no assets except her house($50,000 when she dies can Medicaid recover anything
Apr 04, 2019 21:04:20Hi Marilyn! Since your mother is over 65 and has been receiving long term care financed through Medicaid, according to the Medicaid Estate Recovery Program, your mother's house could be used to repay some of her Medicaid benefits.
May 13, 2019 06:24:02Have a question or comment?
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