Additional Deposit Privilege

Definition of "Additional deposit privilege"

Anna Hewitt real estate agent
Anna Hewitt, Real Estate Agent Summer House Realty Llc

Clause in some current ASSUMPTION WHOLE LIFE INSURANCE policies Such as UNIVERSAL LIFE insurance that allows unscheduled premiums to be paid at any time prior to the policy's maturity date, provided there is no outstanding loan. If there is a loan, additional deposits will be first applied against the loan. Most policies have a minimum that will be accepted as an additional deposit, such as $1000.


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