Individual Level Cost Method With Supplemental Liability
Means of projecting the costs of pension plans on a level basis over a specified future period of time. The actuarial value of each employee's future benefits to be paid at retirement is determined (beginning with the first day an employee could have joined the pension plan, had it been in effect at that time thereby creating a supplemental liability), and their costs are spread equally over the remaining work experience of the employee.
Popular Insurance Terms
Coverage in the event that property is damaged or destroyed so that an insured cannot use the property for its intended purpose. For example, loss of use of a drill press because of ...
Section of the code that qualifies that the death benefit paid under a life insurance policy is received by the beneficiary income-tax free. These tax consequences apply regardless of the ...
Same as term Date of Issue: date when an insurance company issues a policy. This date may be different from the date the insurance becomes effective. ...
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Single policy under which one individual is insured. ...
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