Loss resulting from a peril, but not caused directly and immediately thereby. For example: Loss of property due to fire is a direct loss, while the loss of rental income as the result of the fire would be an indirect loss.
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An arrangement under which an employer pays that part of the premium that equals the annual increase in the cash value of a policy, while the employee pays the rest. Under assignment, upon the death of the employee the employer recovers the total of its payments from the proceeds of the policy, with the remainder going to the employee’s beneficiary.