A benefit to employees wherein the employer reimburses them for child care or provides on-site day care facilities.
Insurance Encyclopedia
Dependent Coverage
Insurance coverage on the head of a family which is extended to his dependents, including only the lawful spouse and unmarried children who are not yet employed on a full time basis, unmarried daughter, widowed daughter, divorced dependent daughter. Children may be step, foster and adopted as well as natural. Certain age restrictions on children usually apply.
Dependent coverage (Health Insurance/Life Insurance)
Insurance extended to the spouse and single children of the insured head of a family. Age limits may apply to the children.
Dependent life insurance
Group life insurance that covers the spouse, children, or other dependents of the group member. Generally it is sold in small amounts mainly to cover funeral expenses.
Dependent life insurance (Life Insurance)
A group life insurance benefit providing death protection to the dependents of an employee covered under the plan.
Dependent properties
See: Business income, dependent properties.
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Properties which an insured business does not own, operate or control, but upon which the insured’s income depends. Examples include major suppliers or customers. Previously known as contingent properties.
Dependent properties (Property Insurance)
Properties that contribute to the insured’s income but are not owned or operated by the insured, for example, customers.
Dependent-care spending account
Benefit that allows employees to set aside a portion of their wages, before taxes are taken out, to pay for certain dependent-care expenses such as child care or elder care, over-the-counter medically related items, and health premiums. Funds are taken out of an employee’s wages through payroll deductions and put into an account controlled by a plan administrator. The employee submits proof of qualified expenses to the plan administrator, who will reimburse the employee from the employee’s account. Employees have to estimate expenses carefully because any unused money at the end of the year is forfeited. Also known as a tax saver or flexible spending account (FSA) .
Dependents
Spouse and children of the insured. Under some insurance policies, parents, other family members, and domestic partners may be covered as dependents.
Depolarisation
See: POLARISATION.