A contract of Life or Health Insurance underwritten on the basis of an insured’s statement of his health with no medical examination required.
A contract of Life or Health Insurance underwritten on the basis of an insured’s statement of his health with no medical examination required.
A form of life insurance which allows changes on the policy face amount, the amount of premium, period of protection, and the length of the premium payment period. See also Flexible Premium Adjustable Life Insurance Policy.