Glossary of Insurance Terms
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401(K) PLAN An employer-sponsored retirement savings plan funded by employee contributions, which may or may not be matched by the employer. Federal laws allow employees to invest pre-tax dollars, up to a stated maximum each year. |
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Reprinted with permission Insurance Information Institute (I.I.I.) All Rights Reserved http://www.iii.org These definitions provide a brief description of several terms used within the insurance industry. These definitions do not apply for all states or for all products. This is not an insurance contract. Other terms, conditions, and exclusions may apply. These definitions do not change the terms of any insurance contract. The inclusion of a definition of a particular coverage does not necessarily indicate that we offer that coverage. Should any conflict exist between these definitions and the provisions of the applicable insurance policy, the terms of the insurance policy control. Coverage availability varies by state. Please read the Columbia Insurance Group policy for full details regarding the coverages offered by our underwriting companies. |
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