Life Expectancy Term Insurance
Type of term life insurance policy that has a face amount that increases to a predetermined sum and then decreases to zero at the termination point of the policy, while at the same time generating a cash value. The number of years that the term policy will be in force is determined by the average life expectancy for the age and sex classification in which the prospective insured falls.
Popular Insurance Terms
Premium rate charged by the insurance company (insurer), which is below the standard rate. ...
Clause in the insurance policy that stipulates the exact time the policy coverage begins and terminates. ...
Type of commercial form that provides coverage for business vehicles regardless of whether they are owned, leased, hired, or borrowed. The form's coverages are divided into the following ...
Law that established rules and regulations to govern private pension plans, including vesting requirements, funding mechanisms, and general plan design and descriptions. For example, three ...
Historical mortality table that replaced the annuity table, 1949, used for the calculation of annuity rates with more-current mortality experience at that time. This table was subsequently ...
Endorsement to the commercial general liability insurance (CGL) policy that provides liability coverage to an insured business for damages anywhere in the world. Policies typically have ...
Life insurance policy under which all premiums have already been paid, with no further premium payment due. ...
Average earned monthly income (AEMI) for the tax year in which the insured wage earner has income interrupted or terminated because of illness, sickness, or accident. This AEMI is important ...
Program designed as protection for political risk (action taken by a foreign government resulting in financial loss to companies trading or investing overseas). Coverage is provided for ...
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