Type of whole life insurance policy in which equal premiums are paid throughout the premium payment period.

Annual premium payments that are the same each year that the life insurance policy is in force.

Group insurance plan in which all policyholders are insured for the same amount of benefits without regard to wages or job position.

Type of term insurance that gives a death benefit that remains the same during a specified period. Premiums usually remain the same throughout each term of coverage.

Insurance commission table that provides different percentages for the first and renewal years of a policy. Also known as heaped commission schedule .

Plan that borrows money and uses the funds to purchase stock of the employer. In turn the employer makes contributions to the plan on behalf of the participating employees. These are tax deductible for the employer and tax deferred for the employee. The ESOP uses the contributed money to pay the loan back and slowly gives the stock to the employees. Also see employee stock ownership plan (ESOP) .

In a Medicare case, to find out whether the beneficiary and the provider did not and could not have been reasonably expected to know that payment would not be made for services.

MEDICAL,USA: 1. Form of insurance coverage that protects the insured against injury, illness, inappropriate action or inaction, or property damage claims from other parties. It includes automobile liability, uninsured and underinsured motorist, homeowner’s liability, malpractice, product liability, and general casualty insurance. It includes payments under state “wrongful death” statutes that provide payment for medical damages. 2. Related to a physician, this is insurance against loss due to claims for damages alleging malpractice by a physician while exercising his or her profession. Also known as professional liability insurance (PLI) or malpractice insurance .
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An insurance which covers the insured against third party claims or, in the case of employer’s liability insurance, claims by employees, subject to specified terms and conditions.
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Any form of coverage whereby the insured is protected against claims of other parties from specified events. Liability Insurance Act Policy under “Public Liability Insurance Act 1991” (Hazardous substances) Effective date 1.4.1991 for new owners and 1.4.1992 for existing owners : To provide through Insurance, immediate relief by “owners ” to persons affected due to: “Accidents : Fortuitous, sudden or unintentional occurrence” While “handling e.g., Manufacture, processing, treatment, package, storage, transportation by vehicles, use, collection, destruction, conversion, offering for sale, transfer or the like. Hazardous Substances viz., Any substance or reparation which, by its reasons of its chemical or physio-chemical properties or handling is liable to cause harm to human beings, other creature, plants, micro-organism property or the environment (the Environment protection Act, 1986) and as notified, by the Central Government (Public Liability Insurance Act – 1991) ” On No fault liability basis.
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Coverage for all sums that the insured becomes legally obligated to pay because of bodily injury or property damage, and sometimes other wrongs, to which an insurance policy applies.
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UK: Insurance against the legal obligation to pay compensation and costs to third parties and employees for loss, injury or damage. Liability may arise through negligence; strict liability; breach of statutory duty; breach of contract. Key liability policies include employers’ liability, public liability, products liability, professional indemnity and directors’ and their duties.
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US: Insurance covering the policyholder’s legal liability resulting from injuries to other persons or damage to their property. Provides protection for the insured against loss arising out of legal liability to third parties.
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Insurance paying or rendering service on behalf of an insured for loss arising out of legal liability to others.

Under Medicare Secondary Payer guidelines, payment by a liability insurer including a payment to cover a deductible required by a liability insurer by any individual or other entity that possesses liability insurance or is covered by a self-insured plan.