Convertible
Definition of "Convertible"
Same as term Convertible Term Life Insurance: coverage that can be converted into permanent insurance regardless of an insured's physical condition and without a medical examination. The individual cannot be denied coverage or charged an additional premium for any health problems.
Popular Insurance Terms
Coverage for business firms operating abroad to insure them against loss due to political upheavals including war, revolution, confiscation, incontrovertibility of currency, and other such ...
Coverage such as HOMEOWNERS INSURANCE POLICY SECTION II On an all risks basis for personal acts and omissions by the insured and residents of the insured's household. Included are sports ...
Percentage of income required by a retiree to maintain a desired standard of living during the retirement years. ...
Type of guaranteed insurance contract in which the term is fixed, the rate is fixed, and the contract owner does not participate in the insurance company's earnings. ...
Historic insignia representing evidence of coverage placed on property insured by a particular insurance company. If the property on fire did not have the company's fire mark, its private ...
Means of ending a pension plan only for reasons of business necessity, following IRS regulations. If the IRS determines that the plan was terminated for other reasons, employee and employer ...
Chart showing for a group of people: the number living at the beginning of a designated year; the number dying during that year. Yearly probabilities are used in calculating premium ...
Person (the transferee to whom the property is transferred) who is at least two generations younger than the person (the transferor) who is transferring the property. This type of property ...
Coverage in the event of damage or destruction resulting from collision by a vessel or high waves. Excluded are fire, lightning, windstorm, earthquake, and explosion, since these perils are ...
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