Ordinary Life—whole Life—straight Life
Definition of "Ordinary life—whole life—straight life"
Three terms that are synonymous. Same as term Ordinary Life Insurance: policy that remains in full force and effect for the life of the insured, with premium payments being made for the same period
Popular Insurance Terms
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Former arrangement under which retirement benefits payable to an employee who continued to work beyond normal retirement age were frozen, and not increased in recognition of added work ...
Cost computation form that assumes retirement and commencement of annuity payments on the first day of the month nearest the birthday when a retiree reaches normal retirement age. Most ...
Same as term Export-Import Bank: partnership between an agency of the U.S. government and the Foreign Credit Insurance Association (50 commercial insurance companies, both stock and ...
clause found in health insurance contracts that requires the insured to pay a specified percentage of the covered health care expenses. ...
Insurance policy renewable at the option of the insured for a specified number of years or to a stated age. The insurance company cannot refuse to renew the policy and cannot change any of ...
Negligent acts or omissions that result in actual or imagined bodily injury and/or property damage to a third party, who brings suit against a business firm and its representatives ...
Standardized set of business laws that has been adopted by most states. The Uniform Commercial Code governs a wide range of transactions including borrowing, contracts, and many other ...
Date at which insurance protection begins. ...
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