What does Salary Continuation Plan mean? Read on to discover the definition & meaning of the term Salary Continuation Plan - to help you better understand the language used in insurance policies.
Salary Continuation Plan
A salary continuation plan is an agreement that outlines the way an employer will respond if an employee becomes disabled. The plan could specify various courses of action, such as keeping the employee in the company's workforce, reducing the employee's responsibilities, and continuing to pay them their current salary.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
We hope the you have a better understanding of the meaning of Salary Continuation Plan. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for: