permanent insurance

permanent insurance
A policy of insurance under which the insurer agrees to be and remain forever liable to the insured, his heirs and assigns. Marshall v Franklin Fire Ins. Co. 176 Pa 628, 35 A 204. The policy issued after consideration of an application for insurance, as distinguished from a binder or temporary insurance.

Ballentine's law dictionary. . 1998.

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  • permanent health insurance — noun A type of insurance that provides an income in cases of prolonged absence from work because of illness or disability (abbrev PHI) • • • Main Entry: ↑permanent …   Useful english dictionary

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  • 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

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