(1) Term used interchangeably with the word “coverage” to denote the insurance provided under the terms of a policy. (2) Term used to indicate the existence of fire-fighting facilities in an area known as a “protected” area.
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A provision in Life Insurance contracts for death benefits that, in the early years of the contract, are less than the face amount of the policy, but that increase with the passage of time. Most commonly found in juvenile policies issued at or near age zero.