If you are regularly engaged in more than one occupation, all of your occupations at the time the disability starts will be combined together to be your regular occupation. The definition is not restricted to a specific company or industry. Regular Purchase Date Dates, nearest specified birthdays of the insured, that give the insured the right to purchase additional permanent policies without providing evidence of insurability, under the Additional Purchase Benefit. The policy must not have been surrendered for its cash value. Renew To continue the policy for another period of time.
Permanent coverage is generally renewable annually for life.
Renewable Term Insurance Term insurance that may be renewed for another term of the same length, usually subject to an upper age limit beyond which renewal will not be permitted. The act of terminating coverage with one insurer for coverage with another. This practice is regulated by most states because it is seldom in the insured's best interest to make such a switch. Required Minimum Distribution Contract owners of qualified plans are required by the IRS to take a minimum payout from their contracts according to a calculation involving the account balance and life expectancy. The amount of money an insurer holds which, with future premiums and an assumed rate of interest, will pay all contractual obligations as they fall due.