exclusion

exclusion definition - business

exclusion

  1. In insurance, the lack of coverage for certain risks, properties, or persons. For example, valuable jewelry may be excluded from coverage under a homeowner's policy.
  2. Income that must be reported but is not taxed. For example, proceeds of up to $500,000 from the sale of a residence are permitted as an exclusion by married couples.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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