Deducibility Of Employer Contributions
Definition of "Deducibility of employer contributions"
Contributions (under qualified employee benefit plans, such as pensions and health insurance) made by an employer on behalf of employees, deducted as a business expense for tax purposes. Employer contributions are not considered current taxable income to the employee. Thus, significant tax advantages are available to both an employer and an employee.
Popular Insurance Terms
Illnesses or disability for which the insured was treated or advised within a stipulated time period before making application for a life or health insurance policy. A preexisting condition ...
Model state law of the NAIC that requires that the insurance policy contain language that meets a readability test (usually, the Flesch readability test that uses a formula approach to ...
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. ...
Organization of a group of insurers composed of mutual property and casualty insurance companies, a subsidiary stock insurance company, and a subsidiary safety engineering company. Their ...
Nonparticipating life insurance (also called a guaranteed dividend or guaranteed investment policy) sold by a stock life insurance company, usually as a 20-payment policy with coupons ...
In property insurance policies, provision that excludes the insurance company's liability for indemnification of the insured for the insured's expenses incurred in the demolition of ...
Employee benefit insurance plan whose objective is to provide the retired employee with life insurance. This group life insurance product is composed of two basic parts: annually renewable ...
Specific values of securities computed annually by the national association of insurance commissioners (NAIC) as guidelines and procedures for insurance companies in listing of their ...
Portion of a property or liability loss retained by a policyholder. Most policyholders do not purchase insurance to cover their entire exposure. Rather, they elect to take a deductible, or ...
Have a question or comment?
We're here to help.