Vanishing Premium Provision
Clause in a life insurance policy that states that once the cash value exceeds the net single premium (based on current interest and mortality rates) required for the policy to become paid-up insurance, the policy owner may elect not to make further premium payments. If the cash value falls below the amount necessary to fund the net single premium, additional premium payments are required.
Popular Insurance Terms
Historical mortality table that replaced the group annuity table, 1951, whose statistics at that time were more current than the replaced table. This table was subsequently replaced by the ...
Agents' records showing when clients' policies expire. ...
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