Insurance Terms - Q
Qualified Default Investment Alternative (QDIA) - (alternative plan for participants who do not make an investment decision in a qualified pension plan)
Qualified Long-Term Care (Q-LTC) - (type of long-term care (LTC) insurance that receives advantageous tax treatment provided benefits are required by a chronically ill individual)
qualified Medicare beneficiary (QMB) - (a person whose income is below the federal poverty guidelines - for such persons, the state is required to pay the Medicare Part B premiums plus any deductibles or copayments)
Qualified Personal Residence Trust (QPRT) - (trust instrument that permits the owner of a residence (grantor) to transfer ownership of that residence with the grantor still being allowed to stay in that residence for a stipulated period of time on a tax-advantaged basis)
Qualified Plan Insurance Partnership (QPIP) - (type of financial plan that establishes a limited liability company (LLC) whose principal members are an irrevocable trust and a retirement account)
qualified pollution exclusion (QPC) -
Qualified Retirement Planner (QRP) - (individual, with the educational background, certification, and experience considered qualified to provide professional advice on retirement planning)
Qualified Terminable Interest Property Trust (Q TIP) - (estate planning structure that leaves property to a surviving spouse, for their lifetime, and that provides that all income from assets in trust be paid at least annually for the life of the surviving spouse)
quality assurance (QA) - (Organizational procedures or practices which ensure that activities meet the prescribed standards regarding supporting documentation and nomenclature)
quality control (QC) - (organizational procedures or practices which ensure that the activities services, equipment, and personnel operate within accepted standards)
Quality Indicator Profile (QIP) - (report prepared by the Centers for Medicare and Medicaid Services (CMS), which the federal government uses to monitor the level of patient care in federally funded nursing homes)
Quality Insurance Congress (QIC) - (organization founded in 1993 with the goal of applying quality management principles to insurance functions - disbanded in 1999)
quantitative impact study (QIS) -