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​Best-in-class personal and business insurance solutions customized for CPAs, their families and firms.


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Legal Reserve
The minimum reserve that a company must keep to meet future claims and obligations as they are calculated under the state of insurance code.

Level Premium
A premium which remains unchanged throughout the life of the policy.

Life Annuity
One of the two major classifications of annuities. A life annuity provides for specified payments at regular intervals but only as long as the annuitant is alive.

Life Annuity with Period Certain
A form of annuity policy which guarantees an income to the annuitant for as long as she or he lives, but also guarantees to make payments to someone (either the annuitant or a beneficiary) for a specified number of years.

Life Income Option
A settlement option under which the beneficiary of a life insurance policy is guaranteed regular periodic payments for life.

Lifetime Disability Benefit
A benefit to help replace income lost by an injured person as long as he or she is totally disabled, even for a lifetime.

Limited Policy
A contract which covers only certain specified diseases or accidents.

Litigation Consulting Services
A consulting service designed to assist a client or their attorneys in matters involving pending or potential litigation or dispute resolution proceedings with a trier of fact. This includes expert consulting or witness services in connection with pending or planned litigation.

Living Benefits
The benefits paid by life insurance companies, primarily to policyowners, in several situations when no death has occurred.

Long Term Disability Income
Insurance issued to an employer (group) or individual to provide a reasonable replacement of a portion of an employee's earned income lost through serious and prolonged illness or injury during the normal work career.

This information should not be construed as legal advice or a legal opinion on any factual situation. This summary is for illustrative purposes and is not a contract. It is intended to provide a general overview, at the time first posted, of the topics described. Only the insurance policy can give actual terms, conditions and exclusions.