What is the Definition of Increasing Term Life Insurance?

What is the Definition of Increasing Term Life Insurance?

A type of term life insurance that provides a death benefit that increases by some specified amount or percentage at stated intervals over the policy term. Contrast with Decreasing term life insurance.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Increasing Term Life Insurance?

What is the Definition of Increasing Term Life Insurance?

You can find random definition and meaning of insurance terms below:


Meaning of Insurance Regulatory Information System/Iris in Insurance Terms

Uses financial ratios to measure insurers’ financial strength. Developed by the National Association of Insurance Commissioners. Each individual state insurance department chooses how to use IRIS.


Meaning of Insurance-To-Value in Insurance Terms

Insurance written in an amount approximating the value of the insured property.


Meaning of Integrated Benefits in Insurance Terms

Coverage where the distinction between job-related and non-occupational illnesses or injuries is eliminated and workers compensation and general health coverage are combined. Legal obstacles exist, however, because the two coverages are administered separately. Previously called twenty-four hour coverage.


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