renewable insurance

Insurance which can be extended in duration by a mere notice from the insured, without the making of a new contract. Continental Casualty Co. v Trenner (DC Pa) 35 F Supp 643.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… …   Black's law dictionary

  • insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… …   Black's law dictionary

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  • renewable term insurance — Term insurance with a provision for renewal without an additional medical examination …   Ballentine's law dictionary

  • renewable term life insurance — A policy for a stated period that may be renewed if desired at the end of the term. Bloomberg Financial Dictionary …   Financial and business terms

  • automatic insurance — Protection under a clause in standard automobile liability policies which extends the coverage to the operation by the insured of cars acquired during the life of the policy by replacement and purchase. 7 Am J2d Auto Ins § 100. Insurance provided …   Ballentine's law dictionary

  • Term life insurance — or term assurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires coverage at the previous rate of premiums is no longer guaranteed and the client… …   Wikipedia

  • Yearly Renewable Term Plan of Reinsurance — A type of life reinsurance where mortality risks are transferred to a reinsurer. In the yearly renewable term plan of reinsurance, the primary insurer (the ceding company) yields to a reinsurer its net amount at risk (the difference between the… …   Investment dictionary

  • Life insurance — The foundation of life insurance is the recognition of the value of a human life and the possibility of indemnification for the loss of that value. F. C. Oviatt, Economic place of insurance and its relation to society[1] Life insurance is a… …   Wikipedia

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