An illness that does not force the insured to remain indoors.
Tag: RAW
Noncontributory (Health Insurance/Life Insurance)
A form of insurance wherein the employer pays the full premium and the employee is not required to contribute at all.
Noncontributory retirement plan (Pensions)
A retirement plan wherein the employer pays the full premium amount.
Noncupative will (Estate)
A will spoken by a person very close to dying, in the presence of witnesses.
Nonduplicaion of benefits (Health Insurance)
Also called coordination of benefits. A clause found in certain policies stating that benefits will not cover losses already being covered by another party.
Noneconomic damages
Pain, suffering, inconvenience, loss of consortium, physical impairment, disfigurement, and other nonpecuniary damages.
nonExcess of loss reinsurance
A proportional reinsurance covering claims only to the extent that they exceed a certain amount or ration, e.g. a liability insurer may reinsure all losses (or a proportion thereof) in excess of £1m, the excess point, up to £2m. Excess of loss has many applications; catastrophe reinsurance, per occurrence reinsurance, per risk reinsurance, aggregate excess of loss, excess of loss ratio. Cover is normally by means of treaty.
Nonfeasance
A failure to act, e.g., to repair a defective pathway.
Nonforfeitable benefit (Pensions)
A pension plan benefit that belongs to the insured and cannot be lost.
Nonforfeiture values (Life Insurance)
The parts of a policy that cannot be denied to the policyholder, even if he or she stops paying the premiums. The policyholder may choose either the paid up surrender value, the cash surrender value, the loan value, and the extended term insurance value. If he or she does not choose one of these, there is one specified in the contract that will take effect.