The examination of an applicant for insurance, or a claimant by a physician who acts in the capacity of the insurer’s agent.

A combination of Term and Whole Life Insurance that pays some multiple of the face during the period of the Term policy, becoming a regular Whole Life policy after the Term policy expires. The multiple protection period is thus the period during which both the Term and the Whole Life coverages are in effect.

Ordinary Insurance, the premiums for which are collected at the door monthly in the same fashion as Industrial policies.

The physician who examines an applicant or claimant on behalf of the insurer, and as an agent of the insurer.

The pure mortality cost of Life Insurance for one year at any given age.

See Experienced Mortality.

An association of Life Insurance agents who qualify by selling $1 million or more worth of Life Insurance coverage. The policies must meet certain qualification standards, and applicants must be members of the National Association of Life Underwriters.

A term which refers to the differences between the face amount of a policy and the reserve or cash value which has been built up under that policy.

A Cash Value Life Insurance policy having a first-year loan value that is available to borrow against immediately upon payment of the first-year premium. This is not the case with most Life Insurance policies, the main reason being high first-year expenses.

The increase in the total amount of business an insurer has to force over a given period of time. It is figured as the total of new policies issued, plus those renewed, less policies lapsed and cancelled.