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insurance |
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insuranceContract guaranteeing compensation to the payer of periodic premiums against loss (under stipulated conditions) by fire, death, accident, and the like. Various consumer policies also insure legal or health services, paying bills or portions thereof, within the contracted conditions. Insurance is a major component of business activity, covering potential loss of property, inventory, or goods in transit. During the Gulf War between Iran and Iraq 1987-88, it was the refusal of insurance companies to cover losses sustained by acts of war that dissuaded oil tankers from passing through the zone of hostilities. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| The type of entity may greatly affect where this insurance premium expense may be deducted on the individual's personal income tax return. The insured also assigns any unearned insurance premium refund to the premium finance company as security, said spokesman Ron Sommer of Mellon Corporate Affairs. Also, the $121,000 remaining after paying the $75,000 life insurance premium (including its subsequent appreciation), will eventually pass to the children estate tax free. |
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insurance premium
