Program that covers screening and diagnostic services to determine physical or mental defects in recipients younger than 21 years of age and health care, treatment, and other measures to correct or ameliorate any defects and chronic conditions discovered. In New York, this is called the Child Health Assurance Program (CHAP) .
Insurance Encyclopedia
Early leaver
Occupational pensions scheme member who leaves before normal retirement age without getting an immediate retirement benefit but may qualify for a deferred pension. Alternatively his accrued benefits could be transferred to a new scheme or used to purchase a buy out policy (also called a Section 32 policy). See PRESERVED BENEFITS.
Early retirement
Occurs when an individual retires before the normal retirement date of the occupational pension scheme. Scheme rules and the IR usually allow immediate pensions from age 50. When early retirement is voluntary, the accrued pension rights are scaled down. Members below age 50 are early leavers unless granted a pension through incapacity.
Early retirement age
Age stated in a pension plan that is before the normal retirement age but allows the plan participant to receive pension benefit. However, benefits received early are reduced from the amount that would have been received at normal retirement age.
Early termination insurance
A derivative of guaranteed asset protection, it covers the monetary shortfall that may arise when a car purchase finance agreement is terminated due to death or a change in the debtor’s employment status through resignation, unemployment or pregnancy, or due to the vehicle being written off or stolen.
Early warning system
A system of measuring insurers’ financial stability set up by insurance industry regulators. An example is the Insurance Regulatory Information System (IRIS), which uses financial ratios to identify insurers in need of regulatory attention.
Earmarked money purchase schemes
A collection of individual arrangements under a single trust. Each member’s fund is held under a separate earmarked insurance policy and no other investments are allowed in this scheme.
Earmarked policy
See: Earmarked Money Purchase Schemes.
Earmarking
A court order compelling a pension scheme to earmark some or all of a member’s pension scheme benefits for payment to an ex-spouse. As earmarking leaves the couple financially linked until retirement it has been superseded by pension sharing.
Earned Income
US: Employment income derived from salary, wages, commissions, or fees.
***
MEDICAL,USA: Money derived from personal services (i.e., salary, wages, commissions, or fees).
***
The money a person earns from working at a job.
***
The money individuals earn as a result of working at some job or occupation for which they are paid a salary.