Legal Compliance

October 5, 2023 5 min read Definitions

Guideline Premium in Life Insurance: Maximum Limit Set by the IRS

Insurance Finance Legal Compliance Life Insurance Guideline Premium IRS Regulations Financial Planning Tax Compliance

Learn about the guideline premium in life insurance, which is the highest premium permitted by the IRS under a policy classified as a life insurance policy. Understand its implications and importance in maintaining the tax-advantaged status of a life insurance policy.

October 4, 2023 4 min read Definitions

Sue and Labor Clause in Property Insurance: Essential Responsibilities

Insurance Risk Management Legal Compliance Property Insurance Insurance Clauses Asset Protection Policyholder Obligations Risk Management

Understand the Sue and Labor Clause in Property Insurance that requires insured individuals to protect and salvage property. Learn about the responsibilities and importance of this clause.

October 4, 2023 4 min read Definitions

Understanding Time Limits in General Insurance: Key Terms and Definitions

Insurance Risk Management Legal Compliance Insurance Time Limits Claims General Insurance Policy Compliance

Learn about time limits in general insurance, including the duration insured individuals have to submit claims and accompanying documents. Ensure timely submission to avoid complications.