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Glossary of Insurance Terms
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- Kenney Rule: Concept permitting a
property/casualty insurer to write $2 of new
net premiums for each $1 of policyholders
surplus.
- Keogh (HR 10) Account: An account
to which a self-employed person can make
annual tax deductible contributions and which
may be withdrawn without penalty after the age
of 59 1/2. Income generated in the account
accumulates tax-deferred.
- Key-Person Insurance: Insurance
designed to protect a business firm against
the loss of income resulting from the death or
disability of a key employee.
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