Related Words

Benefit: Amount payable by the insurance company to a claimant, assignee, or beneficiary when the insured suffers a loss.

Cost-Benefit: Calculating not only the financial costs of a project, but also the cost of the effects it will have from a social point of view. This is not easy to do since it requires valuations of intan . . . View Full Definition

Domestic Partner Benefits: Benefit plan provided by an employer that recognizes individuals who are of the same or opposite sex as spousal equivalents for purposes of health care coverage. Domestic partners are typic . . . View Full Definition

Accelerated Death Benefit: If your life insurance policy has an accelerated death benefit (ADB), you may qualify to use a portion of the death benefit to pay for certain healthcare expenses, such as the costs of a ter . . . View Full Definition

Death Benefit:

Electronic Benefits Transfer (EBT): Electronic benefits transfer, or EBT, is a system through which recipients of certain government benefits receive and spend funds electronically, using a plastic EBT card similar to a bank d . . . View Full Definition

Residual Benefits: Residual benefits can help make up the difference in income if an employee is able to work, but limited in his/her responsibilities due to his/her disability.

Transitional Benefits-Plans: When an employer changes insurance carriers, transition plans enable participants already in treatment to transition to an in-network health provider. It gives the patient and their current . . . View Full Definition

Workers Compensation Indemnity Benefits: Benefits that replace an employee's wages while the employee is unable to work because of a work-related injury or illness.

Defined Benefit Plan: A defined benefit plan — popularly known as a pension — provides a specific benefit for retired employees, either as a lump sum or as income for the rest of their lives. Sometimes the employ . . . View Full Definition