Posted on July 20, 2013July 20, 2013
The amount payable to a living insured at the end of an endowment period, or to the owner of a Whole Life policy if he lives past a certain age.
Facebook
Linked In
Instagram
Twitter
Contact Us
News
Calendar
Calculators
In marine insurance, a term used in determining General Average. It is expenditure or sacrifice other than obligations under the contract of affreightment, incurred by the ship owner.