Term life insurance


 

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Term life insurance

A contract that provides a death benefit but no cash build up or investment component. The premium remains constant only for a specified term of years, and the policy is usually renewable at the end of each term.



Term life insurance

Similar Matches

Sickness insurance

Sickness insurance

See: 'permanent health insurance', 'personal accident' and 'sickness insurance'.


Cash value life insurance

Cash value life insurance

A life insurance policy which pays a benefit on the death of the insured but which also provides a savings element where benefits are payable before death.


Annual renewable term insurance

Annual renewable term insurance

See: Term insurance.


Nonparticipating life insurance policy

Nonparticipating life insurance policy

Life insurance policy whose policyholders do not receive dividends, because they are not participants in the interest, dividends, and capital gains earned by the insurer on premiums paid.


Comprehensive insurance

Comprehensive insurance

A term used to describe an insurance policy in which a wide range of risks are covered.


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