Family Support Act Of 1988
Definition of "Family support act of 1988"
Legislation that changed the tax treatment concerning child-care expenses so that an employee who has incurred child-care expenses greater than $4800 and who is participating in a company-sponsored dependent care assistance program is required to choose between the company plan and the child-care credit. The tax benefit gained by the employee from the child-care credit is reduced dollar for dollar to the extent that the company plan is used to cover child-care expenses.
Popular Insurance Terms
Specifications dealing with exclusions, policy requirements, cancellations and related matters. Perils Most policies exclude enemy attack, invasions, insurrection, rebellion, revolution, ...
Record of ordinary policies that a combination agent is responsible for servicing. ...
Prepaid legal insurance coverage plan sold on a group basis. Entitles a group member to a schedule of benefits, at a stipulated premium, for adoptions, probates, divorces, and other legal ...
Policy of variable universal life insurance (VUL) under which, if the accumulation of the premiums paid at any point in time (minus policy loans, and withdrawals) equals or exceeds the ...
Authority to act on behalf of an individual that terminates upon its revocation or death of that individual. ...
Dollar ceiling on a life insurance policy for applicants who are not given a medical examination. The insurer accepts a health questionnaire in the place of a physical examination. At one ...
Statute that makes it illegal in most states for an agent to rebate (return) any portion of his commission as an inducement for an applicant to purchase insurance from him. ...
Accounting rule found under the Generally Accepted Accounting Principles (GAAP) that prohibits the insurance company from restating assumptions that it made for interest earned, expenses ...
Institutional investment sold by life insurance companies that guarantees principal and offers withdrawal flexibility. This conservative investment, which can be used with a corporate ...
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