Definition of "Matured"
Describing the time of payment of face amount (face of policy) upon the death of the insured, or when the cash value in an endowment insurance policy equals the face amount.
Popular Insurance Terms
Section in a life insurance policy stating that after the policy is in force two years, the company cannot void it because of misrepresentation or concealment by the insured in obtaining ...
Expectation of illness or injury. The probability of such occurrence is shown by a morbidity table, which is important in determining the premiums for health insurance policies. ...
Insurance company that actually underwrites and issues the insurance policy. The term is used because the insurance company assumes or carries the risk for policyowners. The agent usually ...
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Form of marine insurance that covers mobile equipment of a contractor, including road building machinery, steam shovels, hoists, and derricks used on the job by builders of structures, ...
Provision in some disability income policies that provides a monthly income benefit to a disabled insured for as long as he or she remains disabled according to the definition of disability ...
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