- renewable insurance
- Insurance which can be extended in duration by a mere notice from the insured, without the making of a new contract. Continental Casualty Co. v Trenner (DC Pa) 35 F Supp 643.
Ballentine's law dictionary. Anderson, W.S.. 1998.
renewable insurance
Look at other dictionaries:
insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… … Black's law dictionary
insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… … Black's law dictionary
Renewable Term — A clause in a term insurance contract that allows the beneficiary to extend the coverage term for a set period of time without having to requalify for coverage. A renewable term is contingent on premium payments being up to date, as well as a… … Investment dictionary
insurance — /in shoor euhns, sherr /, n. 1. the act, system, or business of insuring property, life, one s person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a… … Universalium
renewable term insurance — Term insurance with a provision for renewal without an additional medical examination … Ballentine's law dictionary
automatic insurance — Protection under a clause in standard automobile liability policies which extends the coverage to the operation by the insured of cars acquired during the life of the policy by replacement and purchase. 7 Am J2d Auto Ins § 100. Insurance provided … Ballentine's law dictionary
renewable term life insurance — A policy for a stated period that may be renewed if desired at the end of the term. Bloomberg Financial Dictionary … Financial and business terms
Term life insurance — or term assurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires coverage at the previous rate of premiums is no longer guaranteed and the client… … Wikipedia
Yearly Renewable Term Plan of Reinsurance — A type of life reinsurance where mortality risks are transferred to a reinsurer. In the yearly renewable term plan of reinsurance, the primary insurer (the ceding company) yields to a reinsurer its net amount at risk (the difference between the… … Investment dictionary
Life insurance — The foundation of life insurance is the recognition of the value of a human life and the possibility of indemnification for the loss of that value. F. C. Oviatt, Economic place of insurance and its relation to society[1] Life insurance is a… … Wikipedia
