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Elimination Period Elimination Period is the duration between an accident, sickness, incapacity, or request and receiving final welfare payments.
Immediate Family The closest family unit of a person is termed as the Immediate Family which includes parents, siblings, spouse, and children.
Time deposit Savings account that allows the financial institution to require notice before withdrawal or to assess a penalty for early withdrawal.
Master Limited Partnership (MLP) Master Limited Partnership (MLP) is a partnership that sells units traded on a recognized stock exchange, has many advantages of a
Just-in-time (JIT) Just-in-time (JIT) refers an inventory control system that keeps the inventory of parts and material at the lowest possible level by using
Implied warranty Implied warranty legally imposed on the seller; ensures that the seller owns the products and that they will serve the purpose for which they
Time limit on certain defenses provision Time limit on certain defenses provision in an individual health insurance policy that prohibits the company from canceling the policy or denying a claim on the basis of a preexisting condition or misstatement in the application after the policy has been in force for
Ultimate net loss Ultimate net loss is the total amount that the insurer is legally obligated to pay in a commercial umbrella policy.
SIMPLE retirement plan SIMPLE retirement plan is a qualified retirement plan for smaller employers who are exempt from most nondiscrimination and
Simplified Employee Pension (SEP) Simplified Employee Pension (SEP) is an employer sponsored individual retirement account that meets certain requirements. Paper work is reduced for employers who wish to cover employees in a
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