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Financial terms in "Insurance"

1. educators legal liability (ELL) insurance

2. public liability insurance

3. quid pro quo

4. coinsurer

5. stop-loss reinsurance (SLR)

6. severance pay exception wording

7. Double Indemnity Benefit

8. Statutory Accounting Principles / Sap

9. negligent evaluation

10. rate making

11. performance ratio

12. Pension Protection Act of 2006

13. Qualifying Event

14. ordinary life

15. written premium

16. occupational injury

17. waiver

18. Residual Disability

19. central loss fund

20. Mib, Inc.

21. registered mail coverage

22. Chartered Insurance Professional (CIP)

23. comprehensive personal liability

24. engaged in trade or business (ETB)

25. custom bond

26. Commercial General Liability Insurance / Cgl

27. due diligence

28. information page

29. Federal Emergency Management Agency (FEMA)

30. Drive-In Claim Service

31. fund control agreement

32. electronic data processing (EDP) coverage

33. qualitative claim auditing

34. rolling stock

35. Complaint Ratio

36. structured finance

37. captive insurance company

38. Employers Liability Insurance

39. primary insurer

40. tax opinion insurance

41. proximate cause

42. conditional receipt

43. discrimination

44. B-share Variable Annuity

45. fiduciary

46. unconditional settlement clause

47. direct premiums

48. strategic risk management

49. Losses Paid

50. Third-party Administrator

51. International Registration Plan (IRP)

52. takaful

53. diminution in value (auto)

54. actuarial risk

55. incurred but not reported (IBNR) losses

56. functional replacement cost

57. res judicata

58. unrelated business

59. inter-insurance exchange

60. dealers driveaway collision

61. barratry

62. common disaster clause

63. class rating

64. Unearned Premiums

65. risk capital

66. insurance agent

67. stamp duty

68. Securities And Exchange Commission / Sec

69. administrator

70. rate on line (ROL)

71. Notice Of Loss

72. Broker

73. State Fund

74. vermin

75. directed verdict

76. premium payment plan

77. policyholder dividends

78. Underwriting income

79. joisted masonry construction

80. horizontal exhaustion rule

81. directors and officers liability insurance

82. House Year

83. Hazardous Activity

84. structured settlement

85. production of documents

86. operators extra expense (OEE)

87. entity coverage

88. modification factor (the mod)

89. catastrophe reserves

90. auto coverage symbols

91. reasonable repairs

92. protective professional indemnity insurance

93. menu-driven policy

94. no-pay, no-play laws

95. general maritime law

96. related product liability exclusion

97. employee stock purchase plan

98. travel insurance

99. state funds

100. boom coverage

Note: Maximum 100 records reached. Please narrow your search.

Featured term of the day

Definition / Meaning of

401(k)

Categories: Finance,

You participate in a 401(k) retirement savings plan by deferring part of your salary into an account set up in your name. Any earnings in the account are federal income tax deferred. If you change jobs, 401(k) plans are portable, which means that you can move your accumulated assets to a new employer's plan, if the plan allows transfers, or to a rollover ira.With a traditional 401(k), you defer pretax income, which reduces the income tax you owe in the year you made the contribution. You pay tax on all withdrawals at your regular rate. With the newer Roth 401(k), which is offered in some but not all plans, you contribute after-tax income. Earnings accumulate tax deferred, but your withdrawals are completely tax free if your account has been open at least five years and you're at least 59 1/2.In either type of 401(k), you can defer up to the federal cap, plus an annual catch-up contribution if you're 50 or older. However, you may be able to contribute less than the cap if you're a highly compensated employee or if your employer limits contributions to a percentage of your salary. Your employer may match some or all of your contributions, based on the terms of the plan you participate in, but matching isn't required.With a 401(k), you are responsible for making your own investment decisions by choosing from among investment alternatives offered by the plan. Those alternatives typically include separate accounts, mutual funds, annuities, fixed-income investments, and sometimes company stock.You may owe an additional 10% federal tax penalty if you withdraw from a 401(k) before you reach 59 1/2. You must begin to take minimum required distributions by April 1 of the year following the year you turn 70 1/2 unless you're still working. But if you prefer, you can roll over your traditional 401(k) assets into a traditional ira and your Roth 401(k) assets into a roth ira.

Most popular terms

1. Lump-sum Distribution
2. Fronting
3. Price-to-earnings Ratio (P/E)
4. Spousal Coverage Extension
5. SIMPLE
6. Structured Product
7. Special Personal Auto Policy (SPAP)
8. Rating Bureau
9. Money Supply
10. Employee Retirement Income Security Act Stock Drop Litigation

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