A life insurance policy that combines whole life and decreasing term to provide income protection against the premature death of the family breadwinner. If the insured dies within a specified period, the family will receive a stated amount of income from date of death until the end of the period. The face amount of the policy is then paid to the family. (For comparison, see: family maintenance policy.)
A policy that combines whole life insurance with decreasing term life insurance and can be used to provide income to help support a family.
A type of term insurance policy which will , on the death of the named person insured, pays out a regular amount until the end of a specified period.
A combination of decreasing term and ordinary life insurance that, in the event of the insured's death within a specified period such as twenty years, pays a monthly income of $10 per $1000 of ordinary life face amount for the remainder of the specified period, and the face amount of ordinary life at the end of this period.
A policy that pays an income until a specific date to the beneficiary after the death of the insured at which time the beneficiary is paid the face value of the policy. The period of payment is measured from the date of the contract. If the insured lives beyond the income period, only the face amount is payable upon his death.
A whole life insurance policy that provides family income coverage.
A form of term insurance. If the death of the insured occurs during the term an income will be paid from the date of death to the end of the term.
A policy that pays an income up to some future date designated in the policy to the beneficiary after the death of the insured. The period of payment is measured from the date of the inception of the contract, and at the end of the income period the face amount of the policy is paid to the beneficiary. If the insured lives beyond the income period, only the face amount is payable in the event of his death.
A type of term insurance policy that, on the death of the life insured, pays benefits by instalments until the end of a specified period.
A insurance policy that pays an income up to a specific period of time to the beneficiary after the death of the insured.
A life assurance policy that following the death of the holder, pays the policyholder's family (or named beneficiary) regular sums for a specified period of time.
A combination of ordinary life and decreasing term insurance covering a period of 5,10,15, or 20 years. The term insurance is sufficient to provide (often when supplemented by interest on the ordinary life insurance) a specified monthly income from the date of death until the end of the specified income period. The principal sum of the ordinary insurance is payable when monthly income from the term insurance ceases or upon subsequent death.
Special Life Insurance Policy combining decreasing Term and Whole Life Insurance that pays a reduced monthly income (e.g., $10 for each $1000 of Life Insurance) if the Insured dies within the specified period. The monthly income is paid to the end of the period, at which time the face amount of insurance is paid.
