Glossary

The Family and Medical Leave Act of 1993 is a law allowing employees to take up to 12 weeks annually of job-protected unpaid leave.

Family deductible refers to a type of health insurance plan deductible that is satisfied or eliminated by the combined medical expenses of all family members covered by the plan.

The family exclusion is found within directors and officers (D&O) liability policies written to cover privately held companies. The exclusion precludes coverage for claims made by one family member/insured against another family member/insured.

Family income life insurance refers to a life insurance policy that combines whole life with decreasing term insurance.

Family life insurance refers to a life insurance policy that combines whole life with term life insurance to cover family members in a single policy.

A farmers personal liability endorsement (found under a homeowners form) covers farm liability exposures but only if (1) farming is not the insured's primary occupation, and (2) the farm is away from the residence's premises.

Farmowners insurance, sometimes referred to as farm insurance, provide homeowners, commercial property, and commercial liability coverage.

A farm umbrella policy provides high limits of liability to protect an insured farmer against a catastrophic liability loss.

FAS 113 refers to standards for accounting for reinsurance.

FAS 115 refers to standards for evaluating assets.