Front End Loaded Term
Same as term Deposit Term Life Insurance: policy in which a premium (the deposit) is paid in the first policy year, in addition to the regular term insurance premiums required. The deposit is left to accumulate at interest for a specific number of years, e.g., 10. Thereafter, the policy owner can receive the deposit plus interest or may renew the policy without the insured having to furnish evidence of insurability. This procedure can be repeated every 10 years, in some instances up to age 100. A deposit term policy can be converted to ordinary life, or decreasing term life insurance without evidence of insurability. However, if the policy owner cancels the policy prior to the initial 10 years, the deposit and any interest is forfeited. If the insured dies before the policy is converted, the deposit plus the interest is added to the death benefit.
Popular Insurance Terms
Authorization to borrow from the U.S. Treasury by the issuance of notes to the Treasury. The Secretary of the Treasury must approve the notes and their interest rates. The PBGC must be self ...
Attachment to a property insurance policy to protect the interest of the mortgagee in the mortgaged property. If the property is damaged or destroyed, the mortgagee is indemnified up to his ...
Additional amount of accidental death and dismemberment insurance not provided by the employee benefit plan (standard group life plan) that may be chosen by the employee. Generally, the ...
Federal statute that permits the self-employed a 100% tax deduction for the family health care expenses to include health insurance premiums, disability INCOME insurance premiums, and ...
Authority derived from an agent's contract with an insurance company. ...
Hospital charges in addition to room and board. Miscellaneous expenses are covered under a basic hospital plan, with the limits of coverage expressed either as a multiple of the daily ...
Insurance policies covering various business risks. ...
Total of operating income plus realized capital gains (losses) from investment and underwriting operations minus federal income taxes. ...
Same as term Office Burglary and Robbery Insurance: coverage for the office of a business, or an individual in a general office building or other structure. Includes burglary of a safe; ...
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