What is the Definition of Limited Payment Life Insurance?
Life insurance policy with premiums that are fully paid up within a stated period of time, such as 20 years.
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 Limited Payment Life Insurance?
You can find random definition and meaning of insurance terms below:
Meaning of Derivatives in Insurance Terms
Contracts that derive their value from an underlying financial asset, such as publicly traded securities and foreign currencies. Often used as a hedge against changes in value.
Meaning of Difference In Conditions in Insurance Terms
Policy designed to fill in gaps in a business’s commercial property insurance coverage. There is no standard policy. Policies are specifically tailored to the policyholder’s needs.
Meaning of Diminution Of Value in Insurance Terms
The idea that a vehicle loses value after it has been damaged in an accident and repaired.
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