Income Payments

Accident and Health Benefits
Accident and Health Benefits refer to fringe benefits provided for accidental injury, accidental death, or sickness. These benefits typically cover payment of medical, surgical, and hospital expenses, along with income payments.
Deferred Group Annuity
A deferred group annuity is a retirement income product where income payments start at a future date and continue for life, funded through annual contributions that purchase single-premium deferred annuities.
Family Income Policy
A Family Income Policy is an insurance policy that provides extra income during the period when children are growing up. This life insurance contract combines ordinary life and decreasing term insurance.

Accounting Terms Lexicon

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