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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Chart published in 1868 by Sheppard Homans, an actuary with the Mutual Life Insurance Company of New York, based on insured lives from 1843 to 1858. Historically, it was widely used for ...
Insurance policy for which the required premium has been paid. ...
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