Definition of "Tax lien"
Claim against property for payment of taxes. Life insurance proceeds and annuity benefits are protected against certain creditors of the insured, but the federal government is not one of them. Thus life insurance and annuity benefits can be held liable if the federal government has a tax lien against the insured.
Popular Insurance Terms
Methods by which a home office underwriter chooses applicants that an insurer will accept. The underwriter's job is to spread the costs equitably among members of the group to be insured. ...
Injury that continues after a wound from physical or psychic entry. (The latter is a wound that makes a lasting impression on the mind, especially upon the subconscious mind; for example, a ...
Resulting when all possible outcomes from all the events being studied have been considered. ...
1961 federal legislation that allows the U.S. Export-Import Bank to set up insurance protection for U.S. exporters against credit risk and political risk in order to help make U.S. exports ...
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Acknowledgment by the policyowner that he or she has received the policy loan requested. ...
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In many health insurance and dental insurance policies, stipulation that, if the estimated cost of a recommended plan of treatment exceeds a specified sum, the insured must submit the plan ...
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