Cost Of Protection
Definition of "Cost of protection"
Same as term Cost of Insurance: value or cost of the actual net protection, in life insurance, in any year (face amount less reserve) according to the yearly renewal term rate used by an insurance company.
Popular Insurance Terms
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Clause in an insurance policy that describes the administration and submission of claims procedure. ...
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Obligation of the insured to report losses from a covered peril to the insurance company or its representative as soon after its occurrence as possible. ...
Settlement choice under a life insurance policy whereby a beneficiary may elect to have the death proceeds paid in the form of a joint and survivor annuity. ...
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