The Insurance Glossary is divided alphabetically for a quick and handy reference to understand terms used by insurance companies. Select the first letter of the word or term to locate a definition and brief description. For example, if you need help understanding the term "Automobile Liability Insurance" or the word "Premium", simply select either the letter(s) "A" or "P" from the alphabet menu guide below:
401(k) Plan: A salary reduction plan that allows employees to contribute a portion of their salaries on a tax-deferred basis. When this type of employee benefit is available to you, you should give it serious consideration. Many employers match contributions that you make to a 401(k) plan. See also Defined Contribution Plan.
