Type of group insurance in which an employee is insured for an amount dependent on the length of time he or she has been employed for the employer.
Insurance Encyclopedia
Length-of-stay outliers
Type of cases that fall outside, either longer or shorter than typical, from the average for a specific diagnosis, procedure, or diagnostic-related group.
lenses
Curved transparent pieces of plastic or glass that are shaped, molded, or ground to refract light in a specific way, as in eyeglasses, microscopes, or cameras. Corrective lenses may be prescribed by an ophthalmologist or optometrist to improve vision.
LESOP
See: leveraged employee stock ownership plan (LESOP) . Also See: employee stock ownership plan (ESOP) .
Less than Truck Load (LTL)
Rates applicable when the quantity of freight tis less than the volume of truckload minimum weight.
Lessee
The person to whom a lease is granted, commonly called the tenant.
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One who possesses the right to use or occupy a property under a lease; the tenant.
Lessee’s safe deposit box coverage form (Criminal)
Insurance that covers the loss of items kept inside the insured’s safe deposit box in a depository facility, such as a bank. This commercial crime form does not cover money kept in a safe deposit box.
Lessor
The person granting a lease, also known as the landlord.
Let
To lease, demise or convey; thus a sign ‘to let.’
Letter of Acceptance
A letter from the Insurer to the insured indicating that the insured’s proposal for Insurance has been accepted.