Part of a nonwaiver agreement that holds that the insured who signs the agreement cannot legally construe certain actions, such as the determination of the value of a claim by the insurance company, to be an admission of liability on the company's part. Under Social Security, a provision that all or part of a recipient's benefits will be lost if he or she earns over a certain amount of money in a given year. However, there are no restrictions on earnings after age 70. Premiums are paid by the employer. Each state sets the benefit schedule and requirements.
Coverage includes medical expenses, disability income, dismemberment and death benefits.
By providing workers' compensation benefits, the employer's liability for injuries and sickness on the job is usually eliminated. Excess of loss reinsurance purchased by primary insurance companies to cover their unlimited medical and compensation liability under the workers' compensation laws. Designation given to a spouse who is an employee or is self-employed and who receives earned income. Insurance coverage that remains in effect regardless of the geographical location in which loss occurs. In insurance, to insure, to underwrite or to take an application.