Related Words

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.

Living Benefits: Life insurance benefits from which the insured can draw cash while still living, usually in the case of some high-cost illness.

Lender Paid Compensation To Broker: This is also called the Yield Spread Premium. Fee which the lender pays to the mortgage broker for obtaining the loan for his client.

Loudness Compensation: When played quietly, this switched circuit allows fuller apparent sound from a system such that the tendancy for human hearing sensitivity to drop off at certain frequencies is compensated a . . . View Full Definition

Mutual Compensation: The concept that carriers must pay when they terminate traffic on the networks of carriers with which they are interconnected.

Older Workers Benefit Protection Act (OWBPA) Of 1990: OWBPA amended the ADEA prohibiting all employers from age discrimination in employee benefits programs by either providing equal benefits for older and younger workers or by spending an equa . . . View Full Definition

Infrared Compensation Index: Used to compensate the focus for black and white infrared film. Color ir film generally does not require compensation.

Managed Indemnity Plans: Health insurance plans that are administered like traditional indemnity plans but which include managed care 'overlays' such as precertification and other utilization review techniques.

Indemnity Wraparound Policy: An out-of-plan product that an HMO offers through an agreement with an insurance company.

Indemnity Health Plan: Indemnity health insurance plans are also called 'fee-for-service.' These are the types of plans that primarily existed before the rise of HMOs, IPAs, and PPOs. With indemnity plans, the ind . . . View Full Definition