Definition and meaning of Endowment Insurance :

Endowment Insurance: A form of Life Insurance where the face amount is payable to the insured at the end of the contract period or to a beneficiary if the insured dies before that. An example would be an insured purchasing an endowment payable at age 65: If he reaches that age, the proceeds would be payable to him. If he dies prior to that age, the proceeds would be payable to the designated beneficiary as a Life Insurance benefit. (LI)

(Source: InsWeb)

Also see these pages: Endowment Insurance , Life Insurance, Life Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - E

For more dictionary entries, see » Life Insurance Dictionary

Definition and meaning of Cost of Insurance :

Cost of Insurance: The amount a policy owner pays to an insurer, minus what he or she gets back from the insurer. This expression is used when determining the true cost of permanent forms of Life Insurance to a policy owner. It considers the fact that premiums are paid in but also that an actual cash value is being built up, which is the portion that the insured will get back from the insurance. (LI)

(Source: InsWeb)

Also see these pages: Cost of Insurance , Life Insurance, Life Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - C

For more dictionary entries, see » Life Insurance Dictionary

Definition and meaning of Business Insurance :

Business Insurance: Policies written for business purposes, such as key employee, sole proprietorship, partnership, and corporation. (LI,H)

(Source: InsWeb)

Also see these pages: Business Insurance , Life Insurance, Life Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - B

For more dictionary entries, see » Life Insurance Dictionary

Definition and meaning of Term Insurance :

Term Insurance: The type of Life Insurance policy that provides protection only for a specified period of time. A common policy period would be one year, five years, 10 years, or until the insured reaches age 65 or 70. It does not build up any of the nonforfeiture values associated with Whole Life policies. Contrast with Whole Life Insurance. (LI)

(Source: InsWeb)

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

For more dictionary entries, see » Life Insurance Dictionary

Definition and meaning of Partnership Insurance :

Partnership Insurance: Life or Health Insurance sold to a partnership, usually for guaranteeing business continuity in case of the death or disability of one of the partners. For instance, two partners might buy Life Insurance on each other so that in the event of one partner's death, the other can use the insurance proceeds to purchase his share of the business from his heirs. (LI,H)

(Source: InsWeb)

Also see these pages: Partnership Insurance , Life Insurance, Life Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - P

For more dictionary entries, see » Life Insurance Dictionary

Definition and meaning of Franchise Insurance :

Franchise Insurance: A plan for covering groups of persons with individual policies having uniform provisions, although they may differ in benefits. Individual contracts are issued to each person with individual underwriting. It is usually applied to groups too small to qualify for true group coverage, and the solicitation of cases usually takes place among an employer's work force with his consent. In Life Insurance, it is sometimes called Wholesale Insurance. Contrast with True Group Insurance. (LI,H)

(Source: InsWeb)

Also see these pages: Franchise Insurance , Life Insurance, Life Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - F

For more dictionary entries, see » Life Insurance Dictionary

Definition and meaning of Mortgage Insurance :

Mortgage Insurance: In Life and Health Insurance, a policy covering a mortgagor from which the benefits are intended (1) to pay off the balance due on a mortgage upon the death of the insured, or (2) to meet the payments on a mortgage as they fall due in the case of his death or disability. Also called Mortgage Redemption Insurance. (LI,H)

(Source: InsWeb)

Also see these pages: Mortgage Insurance , Life Insurance, Life Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - M

For more dictionary entries, see » Life Insurance Dictionary

Definition and meaning of American Council of Life Insurance, Inc :

American Council of Life Insurance, Inc: An association made up of several previously independent insurance groups. It is concerned with legislative matters, intercompany communications, and the exchange of information. (LI)

(Source: InsWeb)

Also see these pages: American Council of Life Insurance, Inc , Life Insurance, Life Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - A

For more dictionary entries, see » Life Insurance Dictionary

Definition and meaning of Scheduled Premium Variable Life Insurance :

Scheduled Premium Variable Life Insurance: A whole life policy which features a fixed, level premium and a minimum guaranteed face amount. The performance of the policy is dependent on the separate account. (LI)

(Source: InsWeb)

Also see these pages: Scheduled Premium Variable Life Insurance , Life Insurance, Life Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - S

For more dictionary entries, see » Life Insurance Dictionary

Definition and meaning of Adjustable Life :

Adjustable Life: A form of life insurance which allows changes on the policy face amount, the amount of premium, period of protection, and the length of the premium payment period. See also Flexible Premium Adjustable Life Insurance Policy. (LI)

(Source: InsWeb)

Also see these pages: Adjustable Life , Life Insurance, Life Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - A

For more dictionary entries, see » Life Insurance Dictionary

Definition and meaning of Life Underwriter :

Life Underwriter: Usually, a Life Insurance agent. It can be more narrowly defined as a risk appraiser. See also Risk Appraiser. (LI)

(Source: InsWeb)

Also see these pages: Life Underwriter , Life Insurance, Life Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - L

For more dictionary entries, see » Life Insurance Dictionary

Definition and meaning of Expectation of Life :

Expectation of Life: The average number of years of life remaining for persons of a given age according to a particular mortality table. Also called life expectancy. (LI)

(Source: InsWeb)

Also see these pages: Expectation of Life , Life Insurance, Life Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - E

For more dictionary entries, see » Life Insurance Dictionary

Definition and meaning of Life Conservation :

Life Conservation: The administration of efforts to preserve human life through research, legislation, and appeals to society. (LI)

(Source: InsWeb)

Also see these pages: Life Conservation , Life Insurance, Life Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - L

For more dictionary entries, see » Life Insurance Dictionary

Definition and meaning of Life Expectancy :

Life Expectancy: The average number of years remaining for a person of a given age to live as shown on the mortality or annuity table used as a reference. (LI)

(Source: InsWeb)

Also see these pages: Life Expectancy , Life Insurance, Life Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - L

For more dictionary entries, see » Life Insurance Dictionary

Definition and meaning of Life Income :

Life Income: A settlement option under which equal installments are paid as long as the beneficiary lives, even if the principal has been exhausted. (LI)

(Source: InsWeb)

Also see these pages: Life Income , Life Insurance, Life Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - L

For more dictionary entries, see » Life Insurance Dictionary

Definition and meaning of Wholesale Group Insurance :

Wholesale Group Insurance: See Franchise Insurance. (LI,H)

(Source: InsWeb)

Also see these pages: Wholesale Group Insurance , Life Insurance, Life Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - W

For more dictionary entries, see » Life Insurance Dictionary

Definition and meaning of Risk Premium Insurance :

Risk Premium Insurance: See Yearly Renewable Term. (LI)

(Source: InsWeb)

Also see these pages: Risk Premium Insurance , Life Insurance, Life Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - R

For more dictionary entries, see » Life Insurance Dictionary

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

For more dictionary entries, see » Life Insurance Dictionary

Definition and meaning of Life insurance :

A policy that pays a specified sum to beneficiaries upon the death of the life assured, or upon the assured surviving a given number of years, depending on the terms of the policy. Life insurance policies may be for fixed or indefinite term. See term life as regards fixed term policies.

(Source Lloyd's )

Also see these pages: Life insurance , Insurance, Insurance Sitemap, Insurance Dictionary - L

For more dictionary entries, see » Life Insurance Dictionary

Definition and meaning of Life Insurance :

Life Insurance: Insurance providing for payment of a specified amount on the insured's death, either to his or her estate or to a designated beneficiary; or in the case of an endowment policy, to the policy holder at a specified date.

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

Also see these pages: Life Insurance , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - L

For more dictionary entries, see » Life Insurance Dictionary

Definition and meaning of ORDINARY LIFE INSURANCE :

ORDINARY LIFE INSURANCE: A life insurance policy that remains in force for the policyholderÕs lifetime.

(Source: Insurance Information Institute )

Also see these pages: ORDINARY LIFE INSURANCE , Insurance, Insurance Sitemap, Insurance Dictionary - O

For more dictionary entries, see » Life Insurance Dictionary

Definition and meaning of dual life insurance :

dual life insurance: Another name for second-to-die insurance.

(Source: Bank of America )

Also see these pages: dual life insurance , Insurance, Insurance Sitemap, Insurance Dictionary - D

For more dictionary entries, see » Life Insurance Dictionary