Full-paid Additions
Definition of "Full-paid additions"
Same as term Dividend Addition: option in a participating policy under which dividends are used to purchase fully paid-up units of whole life insurance. This option deserves careful consideration by young families since it allows the purchase of extra life insurance without having to take a physical examination. Paid-up additions generate dividends and cash values that in turn will generate additional dividends and cash values.
Popular Insurance Terms
Premium required by an insurance company for plans subject to premium adjustment. The initial provisional premium is paid to put a commercial property or liability insurance policy into ...
Coverage in the event that papers of intrinsic value are damaged or destroyed. Coverage is on an all risks basis. Limits of coverage can be quite high; but the insurance company will not ...
Contributions (under qualified employee benefit plans, such as pensions and health insurance) made by an employer on behalf of employees, deducted as a business expense for tax purposes. ...
Coverage in the event an employee is kidnapped from an insured business's premises and forced to return to aid a criminal in a theft. ...
Provision for every citizen of the United States to be guaranteed by law the right to purchase health insurance and is required by law to make such a purchase. ...
Salesperson who markets and services insurance policies in the state in which he or she is domiciled. ...
Bond that provides additional security for a loan. ...
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 ...
Insurance coverage that will indemnify the insured in the event a foreign government or company does not abide by the terms and conditions of the contract in such instances as: Exportation ...
Have a question or comment?
We're here to help.