A form whose face value varies depending upon the value of the dollar or securities or other equity products at the time payment is due.
A form whose face value varies depending upon the value of the dollar or securities or other equity products at the time payment is due.
The type of Life Insurance policy that provides protection only for a specified period of time. A common policy period would be one year, five years, 10 years, or until the insured reaches age 65 or 70. It does not build up any of the non-forfeiture values associated with Whole Life policies. Contrast with Whole Life Insurance.