ordinary life insurance


Also found in: Thesaurus, Financial, Wikipedia.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.ordinary life insurance - insurance on the life of the insured for a fixed amount at a definite premium that is paid each year in the same amount during the entire lifetime of the insured
life assurance, life insurance - insurance paid to named beneficiaries when the insured person dies; "in England they call life insurance life assurance"
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
References in periodicals archive ?
With a more comprehensive and unique data set, this research expands on this prior work and attempts to empirically test the use of claims handling in individual life insurance as a means to postclaim underwrite the ordinary life insurance policy.
Lapse rates on ordinary life insurance products, which were between 5.3 percent and 5.9 percent in 2012-2015, represent the lowest rates in nearly 20 years, according to a new report.
A gift is made four months after the last premium due date of an ordinary life insurance policy issued nine years and four months before the gift was made by the insured, who was thirty-five years of age at date of issue.
If you want a great way of preparing funds for payment of estate taxes, try ordinary life insurance with the beneficiaries designated as irrevocable, a great variation of which is the limited pay variable unit linked policy.
The objective of this study is to analyze whether or not the implementation of The Gramm-Leach-Bliley Act, with repeal of the Glass-Steagall Act, resulted in more competition in the life insurance industry and lowered the price of ordinary life insurance, as envisioned by the Gramm Act.
Lewer Life also reinsures life and dental insurance and offers ordinary life insurance on a direct basis in 10 states.
A profit sharing plan which provides that less than one-half the amount allocated annually to each participant's account will be used to purchase ordinary life insurance on his life meets the 25% requirement (assuming the plan provides no other current benefits purchased with non-deferred funds).
50%--for ordinary life insurance or variable life insurance
Just as 19th century consumers found ordinary life insurance unattractive but rushed to buy a product that allowed them to bet on their own longevity, the tontine feature could change the equation for today's consumers.