Juvenile Endowmenyt Policy
Definition of "Juvenile endowmenyt policy"
Life insurance on the life of a child that provides a death benefit to a beneficiary should the child die during a stipulated time period and the maturity value of the policy at the end of that time period to the child if that child is still alive. This policy has typically been used to provide funds to finance a college education.
Popular Insurance Terms
Same as term Concurrency: in which at least two insurance policies provide identical coverage for the same risk. ...
Restoration of a policy that has lapsed because of nonpayment of premiums after the grace period has expired. In life insurance the reinstatement time period is three years from the premium ...
Means of providing insurance protection for the property of a business that is not at a fixed location. ...
Procedure for accumulating, conserving, and distributing personal wealth. In essence, estate planning focuses on enhancement of the value of an estate and its conservation. At the death of ...
Trust whereby asset management is provided until a child reaches the age of majority. Upon reaching majority, the child has full use and control over the assets. The grantor of the trust ...
Same as term Expiration: termination date of coverage as indicated on the insurance policy. ...
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Coverage for the inside of an insured premises of a business firm if it experiences a loss of money, securities, personal property, and damage or destruction of real or personal property ...
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