A commercial form that provides coverage to truckers who transport goods on behalf of others.
Insurance Encyclopedia
Truckload
Truckload rates apply where the tariff shows a truckload minimum weight. Charges will be at the truckload minimum weight unless weight is higher.
True group insurance (Health Insurance/Life Insurance)
A group insurance policy that has been issued with a master contract and actual certificates of insurance, not policy contracts, for each person in the group.
True monthly premiums
Life insurance premium that is paid monthly and is not an instalment of an annual premium. Consequently when death occurs there is no deduction from the claim payment in respect of the premiums that would have been payable had the policy run its full year of death. term in the
True negatives
Eligible members or enrollees who have not received any medical services through a managed care plan as evidenced by the absence of a medical record and any encounter data. True negatives signify potential access problems and should be investigated by the managed care plan.
Truncated code
Invalid diagnostic code in which an extra digit has been added to a four-digit code to make it five digits. Medicare payers return such claims as unprocessable.
Trunkey Project
Capital construction projects in which the supplier (contractor) designs and builds the physical plant, trains the local personnel on how to manage and operate the facility and presents the buyer with a self-sustaining project (all the buyer has to do is “turn the key”).
Trust
Legal entity (trustee) in which property and funds are held and managed by either a person or third party for a beneficiary. Two types are living trust and testamentary trust.
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UK: An arrangement under which property is transferred to a person called the trustee or several such persons. Trustees are under an obligation to keep the property or deal with it for the benefit of others, the beneficiaries. The trust is created by a trust deed. Occupational pension schemes are set up under trust deeds. See PARTNERSHIP; MARRIED WOMEN’S PROPERTY ACT 1882; TRUST POLICIES.
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An arrangement under which a donor transfers property to a trustee who manages and distributes the property in accordance with the terms of a trust agreement for the benefit of a trust beneficiary.
Trust (Estate)
An arrangement used in situations where beneficiaries are not yet given control of the property that belongs to them. A trustee manages this property until a predetermined time, where control is relinquished to the beneficiary.
Trust agreement
Legal document that sets up a trust fund, allocates specific assets contained in the trust, and states rules for carrying out the duties and responsibilities of the trustee for investing and administration.
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An agreement under which certain assets are deposited by one party (the grantor), for the sole benefit of another party (the beneficiary), into an account managed by a third party (the trustee). In reinsurance, such an agreement is typically established to permit a licensed cedant to take credit for non-admitted reinsurance up to the value of the assets in trust.