- Tax Basis: Money which has yet
to be taxed.
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- Tenants Improvements and Betterment's:
The property affixed to an owner's building by the lessee
or tenant which may not be legally removed when the tenant
leaves.
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- Term: A period of time a policy
or bond is issued.
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- Term Insurance: Life insurance
payable to a beneficiary only when an insured dies within
a specified period, (5, 10, 15, or 20 years). This is the
quickest way to "build" an estate.
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- Testamentary Trust: A trust created
after the grantor's death, according to the provisions of
the the will of its creator.
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- Third Party Insurance: The claimant
under a liability policy. This person making the claim is
not one of the other two parties, the insured and insurer.
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- Threshold Level: The point,
measured in money, time, or other ways, which tort liability
can be established.
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- Time Limit on Certain Defenses:
The time period in health policies after which the insurer
cannot deny a claim or void the policy because of pre-existing
conditions or misstatements on the application.
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- Tort: A private wrong, other
than a breach of contract, for which a court of law will
afford legal relief.
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- Travel Accident Insurance: A
limited insurance contract covering only accidents while
an insured person is traveling.
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- Trust: A legal instrument allowing
one party to control property for the benefit of another.
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- Turnover Rate: Rate at which
employees terminate covered service other than by death
or retirement.
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- Twisting: The act of inducing
by misrepresentation, or inaccurate or incomplete comparison,
a policyholder in one company to lapse, forfeit or surrender
his insurance for the purpose of taking out a policy from
another company.
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Back to the Glossary
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