Pay


Definition of "Pay"

Abbreviation for premium payment. It usually applies to a limited number of annual premium payment policies such as a ten-day policy.



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Related Real Estate Glossary terms

Spendthrift Trust Clause

Provision in a life insurance policy that protects its proceeds from the beneficiary's creditors. On ...

Front Loading

Expenses added to the beginning of a premium payment period. For example, an annuity with a 10% fron ...

Advance

An increase in the price or market value of real estate. ...

Demise

(1) Transfer of an estate by bequest, or contract for a stated time period or life. (2) Making of a ...

Valuation Period

For a variable annuity, the period of time from the close of business on the first business day to t ...

Pro Rata Distribution Clause

Provision in many property insurance policies that automatically distributes coverage over insured p ...

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