The pure mortality cost of a Life Insurance policy from its inception to its maturity date, divided by the number of years the policy is to be in force. See also Level Premium Insurance.
Facebook
Linked In
Instagram
Contact Us
News
Calculators
Resource Center
Modified Life Policy
An Ordinary Life contract under which the premiums are modified so as to be lower than normal for the first three to five years, and higher than normal after that. A special case is a level Term policy, under which no part of the premium goes towards savings, that is automatically converted to a Whole Life policy at a designated time.