contribution

Definitions (2)

2. Mortgage: A term that can have several meanings in the context of insurance. A contribution can be the portion of a loss paid by each insurer, when the same loss is covered by two or more insurers. Or the term can mean the portion of a premium paid by the insured. The term can also mean the portion of the loss paid by the insurer under coinsurance.

Use contribution in a sentence

Since I have a 401k set up at work, my company matches my monthly contribution into my retirement fund.

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conduit IRA formula