Term Life Insurance
Life insurance that stays in effect for only a specified, limited period. If an insured dies within that period, the beneficiary receives the death payments. If the insured survives, the policy ends and the beneficiary receives nothing. For example, if an insured with a five year term policy dies within that period, the beneficiary receives the face amount of the policy. If the insured survives the five year period, the policy ends, with no benefit payable.
Popular Insurance Terms
Act passed by Congress in 1991, the purpose of which is to make it easier for consumers to compare deposit accounts among savings institutions (SI). Some of the act's more important ...
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Based on historical loss experience, from which future loss experience is predicted. ...
Termination of coverage in insurance. ...
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