Joint Life And Survivor Insurance
Coverage for two or more persons with the death benefit payable at the death of the last of those insured. Premiums are significantly lower under joint life and survivor insurance than for policies that insure only one person, since the probability of having to pay a death claim is lower.
Popular Insurance Terms
Life insurance on the life of a child. ...
Bond that provides additional security for a loan. ...
Statistical approach stating that if a series of samples is taken from a stable population, the distribution of the means (averages) of these samples will form a normal distribution whose ...
Same as term Common Disaster Clause: wording in life insurance policies to determine the order of deaths whenthe insured and the beneficiary die in the same accident. For example, if the ...
Decision in the absence of a plaintiff or defendant at the specified court time. ...
The space created between the total death benefit and the cash value of a universal life insurance policy. An automatic increase in the death benefit results when the cash value approaches ...
law that payments by an employer to a nonqualified plan are not deductible as a business expense for federal tax purposes. that payments by an employer to a nonqualified plan are not ...
Policy provision that provides coverage for continuing payroll expense of all employees of an insured business (except for officers and executives) for the first specified number of days of ...
Bonds that are less than investment grade plus the bonds that are in or approaching default, which comprise part of the insurance company's investment bond portfolio. ...
Have a question or comment?
We're here to help.