Q
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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.