Q – Glossary of Terms

ALPHABETICAL LISTING 

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Qualification Period:
A period during which an insured must be totally disabled before becoming eligible for disability benefits.

Qualified Impairment Insurance:
A form of substandard or special class insurance, which restricts benefits for the insured person’s particular condition.

Qualified Plan:
A plan which the Internal Revenue Service approves as meeting the requirements of Section 401(a) of the 1954 Internal Revenue Code. These plans receive tax advantages.

Qualifying Event:
An occurrence (death, termination of employment, divorce, etc.) that triggers the insureds protection under COBRA.

Quick Assets:
Assets that can be converted into cash quickly.
ALPHABETICAL LISTING 

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