InsuranceRight of survivorship Mortality Cost Cost-of-living rider Immediate annuity Punitive damages Cash Surrender Value
Re-entry Option
In a renewable term life policy, there is an option that allows the policy owner to renew their coverage at the end of the term without having to provide evidence of insurability. This means that the policy owner is guaranteed the opportunity to continue their coverage, at a predetermined premium rate outlined in the policy. This option provides flexibility and security for the policy owner, ensuring their coverage can be renewed without any additional obstacles.
Related terms
Understand the meaning and definition of Right of survivorship in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Mortality Cost in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Cost-of-living rider in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Immediate annuity in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Punitive damages in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Cash Surrender Value in the context of stock market, trading, and investments.
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