Insurance on livestock that is essentially life insurance for animals.
Tag: RAW
Livestock Transit Insurance
Insurance against accidents causing death or crippling on shipment of livestock while in transit by rail, trust, or other similar means of transportation.
Livestock transit insurance (Property Insurance)
Insurance that covers accidents that kill or cripple livestock as they are being transported by rail, truck, or other comparable means.
Living benefit rider
Insurance policy provision that allows the insured to receive all or part of the policy’s death benefit before the insured’s death dependent on specific conditions. This type of rider may be used to help an insured individual pay medical expenses if he or she develops a terminal illness.
Living benefits
See: accelerated benefits .
Living benefits rider (Health Insurance)
A rider that provides long-term care benefits for an insured person who is terminally ill, when attached to a life insurance contract.
Living donor kidney transplant
Surgical procedure of excising a kidney from a living donor and implanting it into a suitable recipient.
Living need benefits (Health Insurance)
A mixture of life insurance and long-term care coverage that permits life insurance to produce long-term care benefits. This practice reduces the value of the life insurance policy, because the funds used for medical expenses are deducted from the life insurance policy’s death benefit.
Living trust
See: inter vivo trust .
Living trust (Estate)
Sometimes called an inter vivos trust. A trust created by a living person.