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
Policyholder's equity share of the life insurance company's assets. The share is based on the policyholder's contribution to assets (the company's gross premiums minus cost of insurance, ...
Amendments to the water quality improvement act of 1970 that extends liability of shipowners to any hazardous substances discharged by their ships. The 1970 act made shipowners responsible ...
Cost of replacing damaged or destroyed property with comparable new property, minus depreciation and obsolescence. For example, a 10-year-old living room sofa will not be replaced at ...
Equity of shareholders of a stock insurance company. The company's capital and surplus are measured by the difference between its assets minus its liabilities. This value protects the ...
Intense combustion resulting in a flame or glow. In order for the fire peril to be covered under property insurance, the fire must be a hostile fire, not a friendly fire. ...
Mathematical determination based on the expectation of loss and the benefits to be paid in such an eventuality. The premium charged will vary directly with the probability of loss. ...
Market in which buyers dominate trading and force financial asset prices up. ...
Transfer of rights under an insurance policy to another person or business. For example, to secure a debt, it is not uncommon for the policyowner to transfer to the creditor his rights to ...
Requirement that the insured must have stayed in a hospital or other health care facility for at least a specified period of time before being entitled to receive insurance benefits. This ...
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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