What Is Disability Insurance? As its name suggests, disability insurance is a type of insurance product that provides income in the event that a policyholder is prevented from working and earning an income due to a disability. In the United States, individuals can obtain disability insurance from the government through the Social Security System. They
What Is Disaffirmance? Disaffirmance is a legal term that refers to the right for one party to renounce a contract. In order to render the contract void, the person must indicate that they will not be bound by the terms outlined in the agreement. This can be explicitly expressed by the person in a declaration
What Is Disaster Loss? A disaster loss is a special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area in the U.S. that has been designated as a federal disaster area by the president. Disaster losses can arise from such phenomena as
What Is a Disaster Recovery Site? A disaster recovery site, also known as a backup site, is a place that a company can temporarily relocate to following a security breach or natural disaster. The site is just one facet of the company’s larger disaster recovery or business continuity plan. Key Takeaways A disaster recovery site is a
What Is a Bankruptcy Discharge? A bankruptcy discharge, also known as a discharge in bankruptcy, refers to a permanent court order that releases a debtor from personal liability for certain types of debts. It is sometimes referred to simply as a discharge and comes at the end of a bankruptcy. After it is issued, the
What Is Disclaim? Disclaim, in a legal sense, refers to the renunciation of an interest in, or an acceptance of, inherited assets, such as property, by way of a legal instrument. Key Takeaways Disclaim, in a legal sense, refers to the renunciation of an interest in, or an acceptance of, inherited assets, such as property
What Is a Disclaimer Trust? A disclaimer trust is a type of trust that contains embedded provisions, usually included in a will, allowing a surviving spouse to put specific assets under the trust by disclaiming ownership of a portion of the estate. Disclaimed property interests are then transferred to the trust, without being taxed. Key
What Is Disclosure? In the financial world, disclosure refers to the timely release of all information about a company that may influence an investor’s decision. It reveals both positive and negative news, data, and operational details that impact its business. Similar to disclosure in the law, the concept is that all parties should have equal access
What Is a Disclosure Statement? For retirement accounts, a disclosure statement is a document explaining the rules of a financial transaction in plain, nontechnical language. An IRA plan administrator must provide a disclosure statement to the IRA owner at least seven days before the IRA is established or at the time the IRA is established
What Is Discount to Net Asset Value? A discount to net asset value is a pricing situation that occurs when an exchange-traded fund (ETF) or mutual fund’s market trading price is lower than its daily net asset value (NAV). Several factors may trigger a discount, including instances where the market has a pessimistic future outlook on the underlying
