Primary Insurance AmountUpdated: 19 October 2024 What Does Primary Insurance Amount Mean? The primary insurance amount (PIA) is a component of Social Security, representing the amount a person would receive in retirement benefits if they retire at their normal retirement age. In general, the more...
The meaning of INSURANCE is coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril. How to use insurance in a sentence.
Define Primary Insurance Settlement. means the amount received from the Primary Carrier in settlement of the Contract Holder’s auto insurance claim as a result of a Constructive Total Loss. This includes any amounts or deductions made by the Primary Car
health, homeowners, and life insurance. Most individuals in the United States have at least one of these types of insurance, and car insurance is required by state law.
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The meaning of EXTENDED INSURANCE is life insurance that after cessation of premium payments is continued in its original amount for the period allowed by the cash value.
However, the In-Service Benefit may continue to be paid in the same form of payment as the Primary Benefit was being paid. Any amounts rolled over from the Concordia Retirement Savings Plan may be paid only in the same form of annuity in which the Member will be or is receiving the Mem...
Premiums are higher for permanent insurance like whole life policies than term life for two primary reasons. The first is that the policy covers the insured for their entire life, and the second reason is that a portion of a permanent life premium is paid into the policy as cash, and can...
Even with legislation in these states, the costs of medical malpractice liability have increased, and, in some parts of the country, skyrocketed. Doctors in some areas claim that liability insurance is so high that they refuse to accept patients, move their practice to another state, or even ...
The cost of this coverage is based on the average age of everyone in the group. Therefore a group of young people would have inexpensive rates and an older group would have more expensive rates. Some people rely on this kind of insurance as their primary coverage forgetting that group life ...