The dollar amount in a life insurance policy to be paid to the beneficiary when the insured dies. It does not include other amounts that may be paid from insurance purchased with dividends or any policy riders. A period after the premium due date, during which an overdue premium may be paid without penalty. The policy remains in force throughout this period. An option that permits the policyholder to buy additional stated amounts of life insurance at stated times in the future without evidence of insurability.
Health policies can offer many options and vary in their approaches to coverage.
An elective combination of coverages for the risks of owning a home. The date on which a policy begins. The insurance company. A policy that will pay a specified sum to beneficiaries upon the death of the insured. The amount which can be borrowed at a specified rate of interest from the issuing company by the policyholder, using the value of the policy as collateral.