The termination of an insurance policy if premium is not paid by the end of the grace period.
Insurance that pays out a sum of money (death benefit) upon the death of an insured person.
Whether you purchased a 2, 10, or 20 year term, the premium (payment amount) will stay the same during that…
The company providing the life insurance.
The person whose life is covered under the policy.
When any person would suffer a financial, emotional, or any other type of loss because of the death of the…
The length of time (60 days) after a premium is due and unpaid during which the policy remains in force.
A certain amount of time provided (usually between 10-30 days) to an insured person in order to examine the insurance…
The value of a policy to be provided upon death of the insured, also referred to as death benefit.
The date on which the insurance coverage under your policy ends.