Definition of "Defeasance"

Lisa Turner real estate agent

Written by

Lisa Turnerelite badge icon

Lisa Turner - Selman And Associates

Procedure that moves up the maturity date of the municipal bond to its call date. The call date permits the issuer of the bond to redeem the bond at any time after a stipulated minimum number of years have passed at a given price.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Pledge by an insured in writing, and a part of the actual contract, that a particular condition exists or does not exist. For example, an insured warrants that a sprinkler system works. In ...

Clause in the insurance policy that stipulates the exact time the policy coverage begins and terminates. ...

Insurance policy designed to provide coverage for the deductible amount and the coinsurance amount required to be paid by the medicare recipient. Some of these policies will also continue ...

Massachusetts commissioner of insurance responsible for the passage of legislation (1861) that guaranteed policy owners of that state equity in the cash value of their life insurance. The ...

Insurance for which (1) an application has been filed but the first premium has not yet been paid or (2) a life insurance policy that has not yet been delivered to an insured. ...

Protects a cedent against an aggregate amount of claims over a period, in excess of a specified percentage of the earned premium income. Stop loss reinsurance does not cover individual ...

Employee benefit plan that provides such benefits as long-term care insurance, dependent care spending amounts, sabbaticals, and parental leave. ...

Difference between the actual mortality experience and the expected mortality experience. In statistical terms, this is known as the deviation of the actual (X) from the expected (X). The ...

Same as term Annuity: contract sold by insurance companies that pays a monthly (or quarterly, semiannual, or annual) income benefit for the life of a person (the annuitant), for the lives ...

Popular Insurance Questions