by Carolyn Olson | Jan 26, 2012 | Nonforfeiture Benefits
Non-Forfeiture Benefits = A policy feature that returns at least part of the premiums to you if you cancel your policy or let it lapse.
by Carolyn Olson | Jan 21, 2012 | Benefits
Benefits = The monetary sum paid or payable to a recipient for which the insurance company has received the premiums.
by Carolyn Olson | Jan 21, 2012 | Spouse Premium Waiver
Spouse Premium Waiver = A provision in an insurance policy that relieves the insured and insured’s spouse/partner of paying the premiums while receiving benefits.
by Carolyn Olson | Jan 19, 2012 | Waiver of Premium
Waiver of Premium = A provision in an insurance policy that relieves the insured of paying the premiums while receiving benefits.
by Carolyn Olson | Jan 19, 2012 | Premium
Premium = The amount paid by the policyholder in return for protection against financial loss due to occurrence of an event.