Cafeteria Benefit Plan
Arrangement under which employees may choose their own employee benefit structure. For example, one employee may wish to emphasize health care and thus would select a more comprehensive health insurance plan for the allocation of the premiums, while another employee may wish to emphasize retirement and thus allocate more of the premiums to the purchase of pension benefits.
Popular Insurance Terms
Method of terminating a split dollar life insurance policy by the company transferring its interest in the policy (after the company has effected the largest policy loan permitted equal to ...
Provision found in juvenile insurance that waives the premiums due on the insured child's policy provided that the payor of the premiums becomes totally disabled or dies before the child ...
Coverage for liability exposure resulting from the activities of a business; includes: direct liability acts of the business resulting in damage or destruction of another party's property ...
Tenant's modifications of leased space to fit his particular needs. Up to 10% of contents coverage inside the structure may be applied to insure against damage or destruction of ...
Time frame during which an annuitant makes premium payments to an insurance company. The obligations of the company to the annuitant during this period depend on whether a pure annuity or ...
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One of four types of risks affecting the life insurance company as identified by the society of actuaries. This risk is associated with losses that the life insurance company may incur as ...
Latin phrase meaning "to stand by the decisions." This legal doctrine under common law requires courts to rely on precedents, or previous decisions, when deciding disputes unless there is a ...
Coverage on an all risks basis, subject to exclusions of war, wear and tear, loss resulting from delay, loss of market, infidelity of the insured's employee, loss due to rain, sleet, snow, ...
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