The-definition.com

Definition

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.

Share it:  Cite

More from this Section

  • Balance Sheet Hedge
    A balance sheet hedge requires an equal amount of exposed foreign currency assets and ...
  • Cheque
    ...
  • Factory mutual
    Factory mutual is an insurance company insuring only properties that meet high underwriting ...
  • Dual banking system
    Dual banking system is the system in the United States in which banks supervised by the ...
  • Credit Derivatives
    Credit derivatives are financial contacts that are designed to protect a bank or other ...