Front End Loaded Term
Same as term Deposit Term Life Insurance: policy in which a premium (the deposit) is paid in the first policy year, in addition to the regular term insurance premiums required. The deposit is left to accumulate at interest for a specific number of years, e.g., 10. Thereafter, the policy owner can receive the deposit plus interest or may renew the policy without the insured having to furnish evidence of insurability. This procedure can be repeated every 10 years, in some instances up to age 100. A deposit term policy can be converted to ordinary life, or decreasing term life insurance without evidence of insurability. However, if the policy owner cancels the policy prior to the initial 10 years, the deposit and any interest is forfeited. If the insured dies before the policy is converted, the deposit plus the interest is added to the death benefit.
Popular Insurance Terms
Written evidence given to a policyowner by an insurance company or insurance agency that it has received a premium. ...
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Statistics (such as health data from physical examination of employees or other insureds) used as a benchmark from which deviations and comparisons of expected losses, as well as future ...
Peril that occurs when personal property of two or more people is mixed to such an extent that any one owner can no longer identify his or her property. ...
Total shareholders' equity divided by total common shares outstanding. ...
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