Automatic Increase In Benefit Provision
Clause in a disability income insurance policy that will adjust the amount of the monthly income payment upwards according to a stipulated annual percentage for a given number of consecutive years. The annual premium payment will also increase on an attained age basis and reflect the increase in the cost of the increasing benefit.
Popular Insurance Terms
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Curve that results when yields on short-term treasury issues exceed those on long-term government debt. A widely accepted theory holds that when short-term and intermediate term issues are ...
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