Impairment Rating, Indemnity, Invoice Factoring, Itemised Deduction and more. Each definition explains what the term means and why it changes a number.
A percentage assessment of permanent loss of function, assigned after maximum medical improvement.
Why it matters: In workers compensation it is multiplied by a statutory number of weeks to produce the permanent award.
Run the work injury & comp →The principle that insurance restores you to your position before the loss, without profit.
Why it matters: It is the reasoning behind depreciation, deductibles and policy limits all at once.
Run the insurance claim value →Selling unpaid invoices at a discount to receive cash immediately rather than waiting for payment.
Why it matters: A two percent discount for thirty days annualises into the twenties, so it should be compared as financing, not as a fee.
Run the invoice factoring cost →Claiming specific deductible expenses instead of the standard deduction.
Why it matters: Only the amount above the standard deduction produces any benefit, which is why bunching donations works.
Run the salt deduction cap →A written record made by a business at the time of an accident on its premises.
Why it matters: Requesting a copy immediately is one of the few steps that costs nothing and changes cases.
Run the slip & fall claim →Federal student loan plans capping payments as a share of discretionary income.
Why it matters: Refinancing federal loans privately ends eligibility permanently, whatever rate you are offered.
Run the student loan refinance →A genuine financial stake in the thing being insured, required for a policy to be valid.
Why it matters: It is why you cannot insure a stranger's house, and why key person cover needs documenting.
Run the life insurance needs →A phase during which payments cover interest and none of the principal.
Why it matters: The balance does not fall at all, so the eventual repayment obligation is unchanged.
Run the heloc & home equity loan →