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Q

Qualified Annuity

A form of Annuity purchased with pretax dollars as part of a retirement plan that benefits from special tax treatment, such as a 401(k) plan.

Quitclaim deed

A type of deed in which the person making it (the grantor) grants whatever interest he/she may have in the property described but doesn't guarantee that interest. The grantor "quits" whatever "claim" he/she has. This type of deed is most often used to correct errors in deeds of record or to clear up questionable titles.

Quota Share

The basic form of participating treaty whereby the reinsurer accepts a stated percentage of each and every risk within a defined category of business on a pro rata basis. Participation in each risk is fixed and certain.