Retirement Planning
Formal process of setting aside funds on a mathematical basis to provide deferred income benefits.
Popular Insurance Terms
Coverage for less than one year. Insurers generally charge higher rates for short-term policies than for longer term insurance, such as an annual policy, because of the need to recoup ...
Number of times an accident occurs. Used in predicting losses upon which premiums are based. ...
Endorsement to the standard fire policy increasing the insurance protection to an all risks basis. ...
Endorsement attached to property insurance coverage that provides additional limits of protection on a merchant's inventories during specific time intervals. The time intervals generally ...
Health insurance contract that is renewable at the option of the insurer. On the anniversary date of the contract, the insurer has the right to decide whether or not to renew. ...
Modification in premiums, reserves, and other values to reflect actual loss experience and expenses and expected benefits to be paid. ...
State laws based on a model law of the National Association of Insurance Commissioners (NAIC) that allow insurers to set rates independently; or adopt those rates developed by a rating ...
Ending a pension plan at the election of an employer or sponsor. The employer has the unilateral right to change or terminate a pension plan at any time. However, the termination must meet ...
Amendment that modifies the federal flood insurance program by providing relocation and acquisition coverage for structures in imminent danger from an encroaching shoreline. This amendment ...
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