The beneficiary in a Life Insurance policy in which the owner reserves the right to revoke or change the beneficiary.
The beneficiary in a Life Insurance policy in which the owner reserves the right to revoke or change the beneficiary.
A rider on a Life Insurance policy providing that, in the event of the death of the insured within a specified period of time, the policy will pay, in addition to the face amount, an amount equal to the sum of all premiums paid to date. This is a form of Increasing Term Insurance and is used as a sales tool.