Term Insurance definition

Term Insurance means life insurance coverage, through term insurance products with a primary focus on protection rather than investment, for a particular period of time rather than for the life of the insured.
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Term Insurance means protection for a set period of time. In the event of death of Life Insured, the benefit is paid to the Claimant.
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Examples of Term Insurance in a sentence

  • Dividends are used to pay premiums due in addition to Dividend Term or One Year Term Insurance.

  • Dividends purchase a combination of Dividend Term or One Year Term Insurance and paid-up additional insurance to maintain the insurance target amount.

  • It performs services as an intermediary under the Short Term Insurance Act and Financial Advisory and Intermediary Services Act, entering into short-term policies.

  • An Insurer is also required to provide a periodic report on its Long-Term Insurance Liabilities, prepared by an Actuary, including an actuarial investigation of the financial condition of its Long- Term Insurance Business.

  • If any policy reinsured under this Agreement converts to Extended Term Insurance or Reduced Paid-Up Insurance, the net amount at risk reinsured will be adjusted as appropriate and reinsurance will be continued in accordance with the provisions of the underlying policy.

  • Simple Life is a US life insurance company located in Boston, Massachusetts with four lines of business: Universal Life (UL), Level Premium Term Insurance with three available level term periods: 10, 20 and 30 year, Single Premium Immediate Annuities (SPIA) and Variable Annuities with a Return of Premium (ROP) Guaranteed Minimum Death Benefit (GMDB) and a Guaranteed Minimum Accumulation Benefit (GMAB).

  • SLIC has four lines of business: Universal Life (UL); Level Premium Term Insurance with three available level term periods: 10, 20 and 30 year; Single Premium Immediate Annuities (SPIA); and Variable Annuities with a Return of Premium (ROP) Guaranteed Minimum Death Benefit (GMDB) and an optional Guaranteed Minimum Accumulation Benefit (GMAB) or Guaranteed Minimum Withdrawal Benefit (GWAB).

  • A transaction described in Rule 3.4.2 is sometimes described as a transfer of capital into the Long- Term Insurance Fund.

  • For extended insurance, we base net premiums and net values on the Commissioners 1980 Extended Term Insurance Table.

  • If a policy on a risk reinsured with the Pool member(s) is transferred to Extended Term Insurance, the Ceding Company shall immediately inform the Pool member(s).

Related to Term Insurance

  • group insurance means blanket insurance and franchise insurance and any other forms of group insurance.

  • FHA Insurance means the Federal mortgage insurance authorized pursuant to Section 220, 221(d)(3), 221 (d)(4) or 223(f) of Title II of the National Housing Act of 1934, as amended.

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

  • Excess Insurance shall not apply to any insurance coverage currently held by The Government of Bermuda, or to our Self-Insured Retentions of whatever nature.

  • Fidelity Insurance means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Seller’s regulators.

  • General Liability Insurance Subcontractor shall carry minimum primary General Liability Insurance for the following amounts:

  • ' Compensation Insurance With respect to all operations performed, the Party shall carry workers’ compensation insurance in accordance with the laws of the State of Vermont. Vermont will accept an out-of-state employer's workers’ compensation coverage while operating in Vermont provided that the insurance carrier is licensed to write insurance in Vermont and an amendatory endorsement is added to the policy adding Vermont for coverage purposes. Otherwise, the party shall secure a Vermont workers’ compensation policy, if necessary to comply with Vermont law.

  • Property Insurance is defined in Section 6.10(a).

  • Primary insurance means the policies listed in this policy’s Umbrella Schedule.

  • Casualty insurance means liability insurance.

  • Other Insurance means insurance available to any covered person that covers a loss to which this policy applies, other than either primary insurance or insurance specifically purchased by you to be excess of the insurance afforded by this policy.

  • Insurance Coverage Contractor shall, at Contractor’s sole expense, procure, maintain and keep in force for the duration of this Contract the following insurance conforming to the minimum requirements specified below. Unless specified herein or otherwise agreed to by the City, the required insurance shall be in effect prior to the commencement of work by Contractor and shall continue in force as appropriate until the latter of:

  • Period of Insurance means the period commencing from the retroactive date and terminating on the expiry date as shown in the Policy Schedule.

  • Travel Insurance means coverage for personal risks incidental to planned travel, including one or more of the following:

  • Hazard Insurance A fire and casualty extended coverage insurance policy insuring against loss or damage from fire and other perils covered within the scope of standard extended hazard coverage naming the Servicer, its successors and assigns, as a mortgagee under a standard mortgagee clause, together with all riders and endorsements thereto.

  • Liability Insurance means compulsory professional liability errors and omissions insurance required by a governing body;

  • Mortgage guaranty insurance means surety insurance under which a mortgagee or other creditor is indemnified against losses caused by the default of a debtor.

  • Surplus lines insurance means insurance in this State of risks located or to be performed in this State, permitted to be placed through a resident licensed broker with a nonadmitted insurer eligible to accept the insurance, other than reinsurance, wet marine and transportation insurance, insurance independently procured, and life and health insurance and annuities. Excess and stop‑loss insurance coverage upon group life, accident, and health insurance or upon a self‑insured’s life, accident, and health benefits program may be approved as surplus lines insurance.

  • Policy means Related Party Transaction Policy.

  • Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • First party insurance means an insurance policy or contract in which the insurer

  • Franchise insurance means an individual insurance policy provided through a

  • Force-Placed Insurance shall have the meaning set forth in Section 4.4.

  • Sum Insured means the sum as specified in the Schedule to this Policy against the name of Insured / each Insured Person, which sum represents the Company's maximum liability for any or all claims under this Policy during the Policy period for the respective benefit(s) against which the sum is mentioned in the Schedule to this Policy.