InsuranceAccidental death benefit Opportunity cost Third-party administrator Conditional Receipt Contestable Clause Direct loss
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 Accidental death benefit in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Opportunity cost in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Third-party administrator in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Conditional Receipt in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Contestable Clause in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Direct loss in the context of stock market, trading, and investments.
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