Indivisible Contract
Definition of "Indivisible contract"
Inability to divide a cash value life insurance policy into a savings element and a protection element because, in theory, if the policyowner withdraws a portion or ail of the cash value, there is a reduction in the death benefit.
Popular Insurance Terms
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Cash carried forward from the previous year, plus gains from operations for the current year, plus any capital gains. ...
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Factor applied in retrospective rating in order to increase the basic premium to cover state premium taxes for liability and workers compensation insurance. For example, if a state premium ...
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