A term used in the sale of goods where the buyer’s responsibility for the goods attaches from the time they leave the seller’s warehouse.
Facebook
Linked In
Instagram
Twitter
Contact Us
News
Calendar
Calculators
Resource Center
Lien Plan
(1) A plan for issuing coverage on substandard risks under which a standard premium is paid, but less than the full face amount of the policy is payable if death occurs within a certain period of years. It is rarely used and is even illegal in some states. (2) A plan under which an impairment of the insurer’s assets if offset by pro rata liens against policies to be deducted from the face amount when paid as a claim.