insurance cost

insurance cost
A term significance primarily in life insurance. Cost is established by mortality tables and invariably increases with age. It is the sum necessary to be paid in during the period of expectancy to amount with interest accretions to the face of the policy. It has nothing to do with rates. It is the toll annually taken from the insurer's assets. Jenkins v Talbot, 338 Ill 441, 170 NE 735, 80 ALR 638.

Ballentine's law dictionary. . 1998.

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