Convertible term insurance

An Insurance policy in which the Insurer is required to renew the Policy for a specified amount of time regardless of changes to the health of the Insured. The agreement requires that premiums are Paid on time and that the Insurer makes no changes except if a premium change is made for an entire Class of Policyholder. also called Guaranteed renewable or Conversion privilege or Guaranteed insurability.

Related Terms: 18 Call, Class, Conversion, Conversion privilege, ECI, Guaranteed insurability, Guaranteed renewable, Guarantee, Insurability, Insurance, Insurance policy, Insured, Insurer, Leg, Policy, Policyholder, Paid, RSI

Other Related Pages: Category: Insurance Starting With: C

Additional Related Terms: 10-Q, 10-K, Allowance for depreciation, Accrual of discount, Amortization of premium, At par, ABC agreement, All or any part, At best, At call