Charitable Lead Trust
Trust in which a charity receives income from a donated asset for a specified number of years that it is held in that trust. After the specified period concludes, the principal is transferred to the donor's beneficiaries. This vehicle is used to keep wealth in the family by significantly reducing the costs of transfer to beneficiaries. The charity has the use of the income earned by that money, but the charity does not have use of the principal. This distribution is a taxable gift.
Popular Insurance Terms
Same as term : Self Insurance: protecting against loss by setting aside one's own money. This can be done on a mathematical basis by establishing a separate fund into which funds are ...
a large number of homogeneous exposures (in order for the deviation of actual losses from expected losses to approach zero, and thecreditability of the prediction to approach one). loss ...
Property coverage for damage or destruction of structures in the course of construction. For example, the standing frame of a house destroyed by fire would be covered. ...
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one in which the amount and frequency of payment may fluctuate. ...
Trade group of independent claims adjusters who settle claims for insurance companies on a fee basis. Some insurers use their own staff adjusters to settle a claim. Others use an ...
Entitlement of a participant in an employee benefit insurance plan to receive benefits regardless of his or her employment status. ...
Date at which insurance protection begins. ...
Statutory surplus plus the interest maintenance RESERVE plus the ASSET VALUATION RESERVE. ...
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