Fully Insured Status
Definition of "Fully insured status"
Provision in Social Security: to receive retirement monthly income, a participant must have earned income on which Social Security taxes were paid for at least 10 years or 40 quarters.
Popular Insurance Terms
Cancellation of a policy according to its effective date excluding any premium charge. ...
Early type of no-fault automobile insurance developed by two law professors, Robert Keeton and Jeffrey O'Connell. Its basic premise is that for many accidents it is impossible to place the ...
Professional designation awarded by the American College. In addition to professional business experience in financial planning, recipients are required to pass national examinations in ...
Type of proportional reinsurance under which the ceding company (primary insurer) cedes to a re-insurer its net amount at risk for the amount above its retention limit on a life insurance ...
Section providing protection under three coverages: Coverage E (Personal Liability} coverage in the event a suit is brought against the insured because of bodily injury and/or property ...
Form of excess of loss reinsurance under which each year's reinsurance premium is determined by the amount of the cedent's excess losses for a given period of time, usually three or five ...
Federal law comparable to state workers compensation statutes setting out liability of railroads for work-related injuries or death of their employees. Railroad employees are not covered by ...
Clause, generally found in business interruption insurance, that establishes the same indemnification basis as the coinsurance clause. ...
To accept by a reinsurer, part or all of a risk transferred to it by a primary insurer or another reinsurer. ...
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