(1) A policy guaranteed renewable or non-cancellable to age 65 or some later date. (2) A policy paying disability benefits for life.
(1) A policy guaranteed renewable or non-cancellable to age 65 or some later date. (2) A policy paying disability benefits for life.
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.