Retirement plan funding system that is determined by first separately calculating the contributions for each of the plan’s participants and then adding those amounts to obtain the total required contribution.
Insurance Encyclopedia
Individual health insurance
See: individual health plan .
Individual health plan
Insurance health plan in which one person and his or her dependents are insured under a policy. Also called individual health insurance, individual contract , individual medical plan , or personal insurance .
Individual insurance
Life insurance issued to an individual person. Also called ordinary life insurance and whole life insurance .
Individual insurance coverage
Policies which provide protection to the policyholder and his family (as distinguished from group and blanket insurance). Sometimes called “personal” insurance.
Individual life insurance (Life Insurance)
A kind of life insurance policy where a single contract covers a single insured.
Individual market
Individual and his or her dependents who do not have group health insurance and may be insured under an individual plan.
Individual medical plan
See: individual health plan .
Individual member
A member of the Society who is an individual (as opposed to a corporate member).
Individual membership
Single type of membership in a managed care plan or insurance program in which one person is insured. Other types are family membership and group membership.