Functional capacity testing

Standardized and validated advanced level of testing to determine safe job match for return to work, to assess the level of reasonable accommodations necessary to reinstate an injured worker, and to assign the level of disability for permanent and partial impairment ratings. This testing is used for an injured worker who has achieved maximum medical improvement.

Fund account

Accounting method that uses a formula for establishing insurance premium rates.
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UK: Shows how the pension scheme has dealt with members and income from investments and what investments have been bought and sold during the year. The account is compulsory.

Funded life insurance trust

Trust established to distribute life insurance proceeds. Because insurance companies cannot act as trustees or guardians, the policy proceeds are paid to a trust company and distributed under the terms of a trust agreement creating greater flexibility in distribution of the proceeds. The trustee has control over both the policy proceeds and also securities or other property to provide funds out of which to pay the premiums. This type of arrangement is a funded life insurance trust.