Life insurance

Life insurance

Industry: Insurance

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Life insurance

variable life insurance

Insurance; Life insurance

A form of life insurance whose face value fluctuates depending upon the value of the dollar, securities or other equity products supporting the policy at the time payment is due.

variable universal life insurance

A combination of the features of variable life insurance and universal life insurance under the same contract. Benefits are variable based on the value of underlying equity investments, and premiums ...

viatical settlement provider

Insurance; Life insurance

Someone who serves as a sales agent, but does not actually purchase policies.

viator

Insurance; Life insurance

The terminally ill person who sells his or her life insurance policy.

voluntary reserve

Insurance; Life insurance

An allocation of surplus not required by law. Insurers often accumulate such reserves to strengthen their financial structure.

waiting period

Insurance; Life insurance

See "elimination period."

waiver of premium

Insurance; Life insurance

A provision in some insurance contracts which enables an insurance company to waive the collection of premiums while keeping the policy in force if the policyholder becomes unable to work because of ...