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Claimant

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Definition of Claimant

Claimant Image 1

Claimant

A party to an explicit or implicit contract.


Claimant

Person or party making request for payment of benefits under the terms of an insurance policy.



Related Terms:

Claim dilution

A reduction in the likelihood one or more of the firm's claimants will be fully repaid,
including time value of money considerations.


Structured Settlement

Historically, damages paid out during settlement of personal physical injury cases were distributed in the form of a lump-sum cash payment to the plaintiff. This windfall was intended to provide for a lifetime of medical and income needs. The claimant or his/her family was then forced into the position of becoming the manager of a large sum of money.
In an effort to create a more financially stable arrangement for the claimant, the Structured Settlement was developed. A Structured Settlement is an alternative to a lump sum cash payment in the resolution of personal physical injury, wrongful death, or workers’ compensation cases. The settlement usually consists of two components: an up-front cash payment to provide for immediate needs and a series of future periodic payments which are funded by the defendant’s purchase of one or more annuity policies. Those payors make payments directly to the claimant. In the unfortunate event of the claimant’s death, a guaranteed portion of the settlement may be directed to a beneficiary or his/her estate.
A Structured Settlement is a guaranteed source of funds paid to the claimant or his/her family on a tax-free basis.


Subrogation

Conditional payments may be made by an insurance company to a disability insurance claimant who has a loss of income claim against a third party who caused or contributed to their disability, however, the insurance company has a right to seek reimbursement of any payments they made to the claimant either from the third party or from any judgement or settlement received by the claimant from the third party.


Antidilution Provisions

A clause in a shareholders agreement preventing a company from issuing additional shares, without allowing the current shareholders the opportunity to participate in the offering to avoid dilution of their percentage ownership.



Claim

Request for payment of benefits under the terms of an insurance policy.


Contingent claim

A claim that can be made only if one or more specified outcomes occur.


Claimant Image 1

Dilution

Diminution in the proportion of income to which each share is entitled.


Disclaimer of opinion

An auditor's statement disclaiming any opinion regarding the company's financial
condition.


Equity claim

Also called a residual claim, a claim to a share of earnings after debt obligation have been
satisfied.


Marketed claims

claims that can be bought and sold in financial markets, such as those of stockholders and
bondholders.


Nonmarketed claims

claims that cannot be easily bought and sold in the financial markets, such as those of
the government and litigants in lawsuits.


Preferred Stock Stock that has a claim on assets and dividends of a corporation that are prior

to that of common stock. Preferred stock typically does not carry the right to vote.


Residual claim

Related: equity claim


Unclaimed Pay

Net pay not collected by an employee, which is typically transferred
to the local state government after a mandated interval has passed from
the date of payment.



 

 

 

 

 

 

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