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Term Life Insurance Policy By Crystal K. Wiebe - Scripps Howard Foundation WireToo many Defense Department officials use business class tickets in violation of department policy, according to a GAO audit that said it was more than 12 agencies combined travel.

Individual Insurance Term life insurance that is issued to insure the life or health of a named person or persons, rather than the life or health of the members of a group. Also called ordinary insurance. Initial Premium The first premium payable for a term life insurance contract. Inspection Report A report made by a consumer reporting agency concerning a proposed insured’s lifestyle, occupation, and economic standing. An inspection report is considered an investigative consumer report, as defined by the Fair Credit Reporting Act.

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Spouse and Children's Insurance Rider A rider that may be added to a permanent life insurance policy to provide term insurance coverage on the insured's spouse and children. Standard Premium Rate The premium rate charged for insurance on a member of the standard risk class. Standard Risk Class A risk class made up of individuals whose anticipated likelihood of loss is not significantly higher or lower than average. Most insureds are included in the standard risk class.

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Health Insurance Policy November 8, 2003 (SHFW) WASHINGTON - Too many Defense Department officials use business class tickets in violation of department policy requiring coach flights, according to a report issued Thursday.

Stock Insurance Company An insurance company that is owned by people who buy shares of the company's stock. Contrast with mutual insurance. Substandard Premium Rate The premium rate charged for insurance on an insured person classified as having a greater than average likelihood of loss. This premium rate is higher than a standard premium rate. Substandard Risk Class A risk class made up of people with medical or nonmedical impairments that give them a greater than average likelihood of loss. standard premiums. Members of this risk class are called special class risks.

Health Insurance The highly critical report released by the General Accounting Office documents a multimillion dollar abuse of travel policies within the Department of Defense.According to the audit, the $124 million that Defense personnel spent on premium class air travel in the last two years is more than the combined transportation costs of 12 other major agencies, including NASA, the Department of Education and the Social Security Administration.

> News High life insurance premiums for troops Mon, 05 Nov 2007 According to recent reports, UK soldiers risking their lives on the front line are also being forced to pay life insurance premiums totalling over £1, 000. Insurance companies have trebled the cost of life insurance for soldiers, following the rising death toll in Afghanistan and Iraq.

Insurance Life Premium Return At a Senate permanent subcommittee on investigations hearing, Rep. Jan Schakowsky, D-Ill., testified that this latest revelation is part of widespread financial mismanagement in the department.

Whole Life Insurance Policy "Of about $7 trillion in accounting entries at the Pentagon, at least $1.2 trillion ... were not supported by sufficient evidence to determine their validity," she said. "That is almost 20 percent."

Auto Cheap Insurance Sen. Norm Coleman, R-Minn., the subcommittee chairman, said the report was evidence that some Defense personnel were "living the high life."

Insurance Life Premium Whole Sen. Chuck Grassley, D-Iowa, recalled a report he issued about credit card misuse at the department in the 1990s. "I came away from that experience convinced that stealing money at DOD was a piece of cake," he said.Like his own report, Grassley said, the GAO travel report revealed an "unending litany of horror stories," such as an employee who flew from Washington to Los Angeles on a first-class ticket that cost $3,000 more than a seat in coach.

Cheap Home Insurance Policy Another example brought up repeatedly during the hearing involved a family of four that relocated from London to Honolulu. The total cost of their first- and business-class airfare was $18,443 more than coach.Except for special circumstances dictated by health or time restraints, Defense employees are expected to fly coach.

Home Insurance Gregory D. Kutz, director of the GAO financial management and assurance team, said that, although only about 1 percent of all airline tickets were premium, they accounted for 5 percent of the department's total travel costs.

Care Insurance Long Premium Based on statistical sample testing, the GAO estimated that nearly three quarters of premium class travel was neither properly authorized nor properly justified.Of the 28 most-frequent premium class fliers, 27 were senior Defense officials, the report said. The GAO estimated that senior civilian and military employees accounted for almost 50 percent of premium class travel.Most upgrades were from coach to business. Kutz said of the approximately 68,000 premium tickets, about 66,000 were business and 1,200 were first class.His report, which questions the Defense Department's policies, procedures and monitoring of premium class travel, includes 16 recommendations. Kutz said the department needs to resolve inconsistent department policies, perform better oversight and do a better job documenting when premium travel is necessary.Charles S. Abell, assistant secretary of Defense, told the committee that his department was already responding to the audit with a special task force, similar to one set up for employee credit card problems.He predicted that premium class problems would be a thing of the past once a new Defense travel system is fully operational by 2007.

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