Family Income Rider
Definition of "Family income rider"
Attachment of decreasing term life insurance to an ordinary life policy to provide monthly income to a beneficiary if death occurs during a specified period. If the insured dies after the specified period, only the face value is paid to the beneficiary since the decreasing term insurance has expired.
Popular Insurance Terms
Modified endowment insurance policy under which the insured receives one-half the death benefit as the maturity value of the policy. ...
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