Get a Life!
The present value of the family's share of the deceased breadwinner's future earnings.
What is the human life value?
Requires the insured to pay a certain percentage of eligible medical expenses in excess of the deductible.
What is a coinsurance provision?
Full-time employee, met a probationary period, applied during the eligibility period, and actively at work when coverage begins.
What are eligibility requirements for group insurance?
A legal wrong for which the court allows a remedy in the form of money damages.
What is a tort?
This FICA tax has no wage base limit and totaled 2.9% in 2025.
What is the Medicare tax?
The period from the time that Social Security survivor benefits terminate to the time the benefits are resumed.
What is the blackout period?
Limit on the insured's total out-of-pocket spending after which the insurer pays 100% of eligible expenses.
What is the stop-loss limit?
Low-cost, yearly renewable, coverage of 1-5x salary, and ends when leaving employment.
What is group term life insurance?
This requires an unbroken chain of events and is one element of negligence.
What is a proximate cause relationship?
This indicates someone can start receiving their full amount of Social Security retirement benefits and ranges from 65 to 67.
What is full retirement age?
The policy can be exchanged for a cash-value policy without evidence of insurability.
What is convertible term insurance?
An investment account you can contribute to only if you are on a high deductible health plan.
What is a Health Savings Account?
The first amount of group life insurance that results in tax-free premium payments.
What is $50,000?
Damages awarded for medical expenses.
What are special damages?
Someone has earned 40 quarters of coverage. in 2025 1 quarter equaled $1,810 in wages.
What is fully insured?
A flexible premium policy that provides lifetime protection.
What is universal life insurance?
This policy reimburses for actual charges up to a daily limit.
What is an expense-incurred LTC policy?
An organized system of health care that provides medical services with limited choice of providers to consumers, cost-sharing provisions, and a focus on cost control.
What is a health maintenance organization?
The injured person cannot collect damages if his or her care falls below the standard of care required for his or her protection.
What is contributory negligence?
If above the second hurdle ($34k Single, $44k MFJ) for combined income that includes AGI, nontaxable interest, foreign earned income, and 1/2 of the retirement benefit.
What is up to 85% of the Social Security benefit being taxed?
It has flexible premiums and choice of how premiums are invested. But be careful of those expense charges!
What is variable universal life insurance?
Added to an insurance policy, this provides some coverage for certain long-term care expenses.
What is a long-term care rider?
A plan where benefits are paid from 13 weeks to two years and usually only a nonoccupational disability is covered.
What is short-term group disability insurance?
If the defendant had a last clear chance to avoid the accident but did not, the negligent plaintiff can still collect.
What is the last clear chance rule?
Surviving spouses, ex-spouses (married 10+ years), and dependent children.
What are people eligible for Social Security survivorship benefits?