ordinary life insurance

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  • noun

Synonyms for 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

References in periodicals archive ?
Hypothesis 2: The larger the size of the life insurance company, the higher is its ordinary life insurance premium.
Death benefits under a pension plan of any type will be considered incidental if either (1) less than 50% of the employer contribution credited to each participant's account is used to purchase ordinary life insurance even if the total death benefit consists of both the face amount of the insurance and the amount credited to the participant's account at time of death or (2) such death benefits would be incidental under the "100-to-1" test described below.
As compiled by the NAIC organization, the lapse rate is reported for ordinary life insurance products.
Unlike previous studies, this article introduces cohort analysis as well as other demographic methods, such as age standardization and decomposition, to examine the age, period, and cohort effects on the ordinary life insurance purchases in the U.
Unlike ordinary life insurance, the risks on variable rate insurance policies are borne by policyholders, and returns are not guaranteed.
Surprisingly, however, some of these slow-growing, staid products - which include traditional deposit products, trust products, and ordinary life insurance - have proved highly resilient.
It differs from the ordinary life insurance agreement only in that it is more binding, more exacting.
The rankings are based on group direct and ordinary life insurance premiums, the latter referring to term and all permanent products.
Ordinary life insurance is issued in multiples of $1,000, with premiums payable continuously until the insured dies.
ORDINARY LIFE INSURANCE policyholders who have reached age 90 and over surely are the insurance industry's heroes.
Despite the venerable Grigsby decision, states may want to consider the rule proposed by the Medical Association or distinguish between ordinary life insurance and credit lif e insurance as to the propriety of purchase, beneficiary designation, or assignment and the status of the parties.
Offsetting rating factors include the challenges WSFG faces in growing its ordinary life insurance line of business in a highly competitive environment and its elevated exposure to interest-sensitive products calculated at approximately two-thirds of total reserves.
SBLI continues to prosper today as what it says is the leading provider of ordinary life insurance in Massachusetts.
Individual ordinary life insurance commissions increased 10% to $6.
The retention limit is defined as the amount of ordinary life insurance retained by the ceding insurer on the life of any insured individual (under all policies, collectively).