Effective Date – The date on which the insurance under a policy begins.

Elimination Period – A specified number of days at the beginning of each period of disability during which no disability income benefits are paid. The elimination period may be as short as a few days or as long as one year or more.

Employee Assistance Program (EAP) – Employer-sponsored mental health program designed to identify and help resolve conflicts that may affect employee productivity. Such situations may revolve around matters such as substance abuse, family problems, financial difficulties and loss of a loved one.

Employee Retirement Income Security Act (ERISA) – Legislation passed in 1974 applying to most private pension and welfare plans that requires certain minimum standards to protect participating employees.

Employee Stock Ownership Plan (ESOP) – An individual account plan that provides shares of stock in the sponsoring company to participating employees’ retirement plans. "Leveraged" ESOPs are permitted to borrow money.

ERISA – See Employee Retirement Income Security Act.

Errors and Omissions Insurance – Liability insurance policy that provides protection against loss incurred by a client because of some negligent act, error, or omission by the insured.

Estate Planning – Developing a plan to transfer all of your property from on generation to the next or within a generation.

Exclusion or Exception – Specified conditions or circumstances, listed in the policy, for which the policy will not provide benefits.

Extended Unemployment Insurance Benefits – Additional cash benefits paid by federal state unemployment insurance programs to workers who are involuntarily unemployed and who have exhausted their regular weekly cash benefits during periods of high unemployment.

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