What is an 'Accelerated Death Benefit - ADB' An accelerated death benefit (ADB) is a benefit that can be attached to a life insurance policy that enables the policy holder to receive cash advances against the death...
What is 'Ability-To-Pay Taxation' Ability-to-pay taxation is a progressive taxation principle that maintains that taxes should be levied according a taxpayer's ability to pay. This progressive taxation approach places an increased tax burden on individuals, partnerships, companies,...
An annuity can be best defined as a financial product which is exclusively designed and offered by insurance companies to help individuals grow funds. In other words, it is developed to offer or pay out individuals a stream of...
What is 'Accelerated Vesting' A form of vesting that takes place at a faster rate than the initial vesting schedule in a company's stock option plan. This allows the option holder to receive the monetary benefit from...
What is 'Absolute Interest' Total and complete ownership of an asset or property. An individual with an absolute interest has both a legal and beneficial possession of said asset or property. The term "absolute interest" indicates that...
DefinitionAllodial title constitutes ownership of real property that is independent of any superior landlord. Allodial title is related to the concept of land held "in allodium", or land ownership by occupancy and defense of the land. Historically, much of...
DefinitionThe term annual percentage rate of charge, corresponding sometimes to a nominal APR and sometimes to an effective APR, is the interest rate for a whole year, rather than just a monthly fee/rate, as applied on a loan, mortgage...
DefinitionAbsenteeism is a habitual pattern of absence from a duty or obligation without good reason. Generally, absenteeism is unplanned absences. Absenteeism has been viewed as an indicator of poor individual performance, as well as a breach of an implicit...
DefinitionTotal absorption costing is a method of Accounting cost which entails the full cost of manufacturing or providing a service. TAC includes not just the costs of materials and labour, but also of all manufacturing overheads. The cost of...
What is 'Absolute Beneficiary' A designation of a beneficiary that can not be changed without the written consent of that beneficiary. Also referred to as an "irrevocable beneficiary", absolute beneficiaries can also refer to a trust, an...