Phantom Stock Plans
Definition of "Phantom stock plans"
Plans that are similar to stock appreciation rights (SARS) in that an employee is granted a contractual right by the employer to a stipulated number of units in the business, which is really a percentage of the business. As the value of the business increases, the value of these units increase. At the end of a stipulated period of time, the employee either can receive additional income based on the appreciation of the value of these units or can convert these units into an equity ownership in the business. Thus, the employee has a vested interest in the business increasing in value.
Popular Insurance Terms
Approach that maintains injury or sickness begins when it is first detected by an obvious appearance. This argument is used in determining if liability insurance is afforded in a particular ...
Coverage in the event a school, summer camp, or similar operation suffers loss of tuition because a peril destroys a building. The tuition form reimburses the institution for loss of ...
Fund from which losses are paid for the insolvent members of Lloyd's of London. Each year, members of Lloyd's of London contribute a percentage of their premium volume to this fund to act ...
Performance of management functions associated with administering an employee benefit insurance plan, to include actuarial services, booklet and contract plan designing, billing, ...
Primary responsibility for overseeing the insurance industry that has rested with individual states since 1945, after Congress passed the MCCARRAN-FERGUSON ACT (PUBLIC LAW 15). In addition ...
State in which an insurance company has its principal legal residence; where an individual resides in a fixed permanent home. ...
Law that places limitations on an uninsured motor vehicle owner or motor vehicle operator's ability to recover damages in the event of a motor vehicle accident. The state of Louisiana ...
Income payable to a surviving spouse or other beneficiary upon the death of the primary wage earner to bridge the gap until the beneficiary is self-sufficient. For example, income can be ...
Total of net investment income plus underwriting income plus other miscellaneous income. This type of income is an indication of how the underwriting function and the investment function of ...
Have a question or comment?
We're here to help.