The increase in the total amount of business an insurer has to force over a given period of time. It is figured as the total of new policies issued, plus those renewed, less policies lapsed and cancelled.
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A form of Life Insurance that is usually a combination of Whole Life and twice as much Term Insurance. The Term portion applies until a stated date. Such a policy might be used to provide maximum protection to an individual at an earlier age when the need for insurance is greater but the ability to pay is less.