- Qualification Period: A period
during which an insured must be totally disabled before
becoming eligible for disability benefits.
|
- Qualified Impairment Insurance:
A form of substandard or special class insurance, which
restricts benefits for the insured person's particular condition.
|
- Qualified Plan: A plan which
the Internal Revenue Service approves as meeting the requirements
of Section 401(a) of the 1954 Internal Revenue Code. These
plans receive tax advantages.
|
- Qualifying Event: An occurrence
(death, termination of employment, divorce, etc.) that triggers
the insureds protection under COBRA.
|
- Quick Assets: Assets that can
be converted into cash quickly.
|
Back to the Glossary
|
