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
Arrangement in which an unused deduction (credit carryover) to a profit sharing plan can be added to an employer's future contribution on a tax deductible basis. It occurs when the ...
Contract guaranteeing that a person licensed by a city, county, or state agency will perform activities for which the bond was granted, according to the regulations governing the license. ...
in life insurance, receipt by a company of an insurance application accompanied by the first premium. in property and casualty insurance, a company's receipt of an application. ...
Coverage if an insured can not collect on property damage or destruction losses from the hired transporter. For example, a truck transporting furniture of the insured is involved in an ...
Reinsurance clause that stipulates that the reinsurer will be subject to the same fate as the ceding company. ...
Form of insurance whereby the buyer (reinsurer) assumes the entire obligation of the cedent company, effected through the transfer of the policies from the cedent to the books of the ...
Same as term Expected Loss: probability of loss upon which a basic premium rate is calculated. ...
Pricing of the insurance product below the necessary premium rate to reflect the costs of expected losses. The thesis of this pricing strategy is to obtain large sums of money to invest and ...
Peril that occurs when personal property of two or more people is mixed to such an extent that any one owner can no longer identify his or her property. ...
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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