Definition and meaning of term insurance :

term insurance: A plan of insurance that covers the insured for only a certain period of time (term), not for his or her entire life. The policy pays death benefits only if the insured dies during the term.

(Source: Bank of America )

Also see these pages: term insurance , Insurance, Insurance Sitemap, Insurance Dictionary - T

Definition and meaning of Term Insurance :

Term Insurance: Life insurance payable to a beneficiary only when an insured dies within a specified period.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Term Insurance , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - T

Definition and meaning of Term Insurance :

Term Insurance: Life or health insurance protection during a limited number of years but expiring without value if the insured survives the stated period.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Term Insurance , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - T

Definition and meaning of Term :

Term: The period of time for which a policy or bond is issued.

(Source: InsWeb)

Also see these pages: Term , Insurance, Insurance Sitemap, Insurance Dictionary - T

Definition and meaning of Term :

Term: The period of time for which a policy or bond is issued.

(Source: InsWeb)

Also see these pages: Term , Insurance, Insurance Sitemap, Insurance Dictionary - T

Definition and meaning of TERM LIFE INSURANCE :

TERM LIFE INSURANCE: A form of life insurance that covers the insured person for a certain period of time, the ÒtermÓ that is specified in the policy. It pays a benefit to a designated beneficiary only when the insured dies within that specified period which can be one, five, 10 or even 20 years. Term life policies are renewable but premiums increase with age.

(Source: Insurance Information Institute )

Also see these pages: TERM LIFE INSURANCE , Insurance, Insurance Sitemap, Insurance Dictionary - T

Definition and meaning of Policy Term :

Policy Term: See Policy Period.

(Source: InsWeb)

Also see these pages: Policy Term , Insurance, Insurance Sitemap, Insurance Dictionary - P

Definition and meaning of Policy Term :

Policy Term: See Policy Period.

(Source: InsWeb)

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Definition and meaning of Mutual Insurer :

Mutual Insurer: An incorporated insurer without incorporated capital owned by its policyholders. Although mutual insurers do distribute their earnings to their policyholders in the form of dividends, the term should not be used in a sense that makes it synonymous with participating. In most jurisdictions, a mutual insurer is free to issue nonparticipating insurance if it chooses and a stock insurer is free to issue participating insurance. Contrast with Stock Insurer.

(Source: InsWeb)

Also see these pages: Mutual Insurer , Insurance, Insurance Sitemap, Insurance Dictionary - M

Definition and meaning of Mutual Insurer :

Mutual Insurer: An incorporated insurer without incorporated capital owned by its policyholders. Although mutual insurers do distribute their earnings to their policyholders in the form of dividends, the term should not be used in a sense that makes it synonymous with participating. In most jurisdictions, a mutual insurer is free to issue nonparticipating insurance if it chooses and a stock insurer is free to issue participating insurance. Contrast with Stock Insurer.

(Source: InsWeb)

Also see these pages: Mutual Insurer , Insurance, Insurance Sitemap, Insurance Dictionary - M

Definition and meaning of Additional Insured :

Additional Insured: A person other than the named insured who is protected under the terms of the contract. Usually, additional insureds are added by endorsement or referred to in the wording of the definition of "insured" in the policy itself. 

(Source: InsWeb)

Also see these pages: Additional Insured , Insurance, Insurance Sitemap, Insurance Dictionary - A

Definition and meaning of renewable term insurance :

renewable term insurance: Term insurance providing the right to renew at the end of the term for another term or terms, without evidence of insurability. The premium rates increase at each renewal as the age of the insured increases.

(Source: Bank of America )

Also see these pages: renewable term insurance , Insurance, Insurance Sitemap, Insurance Dictionary - R

Definition and meaning of Preliminary Term :

Preliminary Term: The period of a short-term insurance issued to cover a risk to a date which the policy owner wishes to establish as the anniversary date for future premiums.

(Source: InsWeb)

Also see these pages: Preliminary Term , Insurance, Insurance Sitemap, Insurance Dictionary - P

Definition and meaning of Preliminary Term :

Preliminary Term: The period of a short-term insurance issued to cover a risk to a date which the policy owner wishes to establish as the anniversary date for future premiums.

(Source: InsWeb)

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Definition and meaning of convertible term insurance :

convertible term insurance: Term insurance that offers the policyholder the option of exchanging it for a permanent plan of insurance without evidence of insurability.

(Source: Bank of America )

Also see these pages: convertible term insurance , Insurance, Insurance Sitemap, Insurance Dictionary - C

Definition and meaning of Renewable Term Insurance :

Renewable Term Insurance: Term insurance which can be renewed at the end of the term, at the option of the policyholder and without evidence of insurability, for a limited number of successive terms. The rates increase at each renewal as the age of the insured increases.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Renewable Term Insurance , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - R

Definition and meaning of Term Rule :

Term Rule: The provision in a rating manual which states the periods for which coverages run, and discounts, if any, which apply to the rates or premiums of policies issued for more than one year.

(Source: InsWeb)

Also see these pages: Term Rule , Insurance, Insurance Sitemap, Insurance Dictionary - T

Definition and meaning of Term Rule :

Term Rule: The provision in a rating manual which states the periods for which coverages run, and discounts, if any, which apply to the rates or premiums of policies issued for more than one year.

(Source: InsWeb)

Also see these pages: Term Rule , Insurance, Insurance Sitemap, Insurance Dictionary - T

Definition and meaning of extended term insurance :

extended term insurance: A form of insurance available as a non-forfeiture option. It provides the original amount of insurance for a limited period of time

(Source: Bank of America )

Also see these pages: extended term insurance , Insurance, Insurance Sitemap, Insurance Dictionary - E

Definition and meaning of ADDITIONAL TERM INSURANCE OPTION :

ADDITIONAL TERM INSURANCE OPTION*: An option available to owners of participating insurance policies under which the insurer uses a policy dividend as a net single premium to purchase one-year term insurance on the insuredÕs life. Also known as fifth dividend option. (See Dividend; Policy dividend options)

(Source: Insurance Information Institute )

Also see these pages: ADDITIONAL TERM INSURANCE OPTION , Insurance, Insurance Sitemap, Insurance Dictionary - A