Automatic premium loan
Automatic premium loan means cash borrowed from a life insurance policy’s cash value to pay an overdue premium after the grace period for paying the premium has expired.
Category: Banking & Finance
Previous: ← Attitudinal hazard
More from this Section
- Gramm-Leach-Bliley (Financial Services Modernization) Act
Gramm-Leach-Bliley (Financial Services Modernization) Act is the Federal law approved ... - Riegle Community Development and Regulatory Improvement Act
Riegle Community Development and Regulatory Improvement Act is the federal law passed ... - Principle of indemnity
Principle of indemnity allows principle that states the insurer agrees to pay no more ... - Forward transaction
Forward transaction is a transaction that involves the exchange of bank deposits denominated ... - Depreciation
Depreciation is the process of allocating to expense the cost of a plant asset over its ...