convertible term insurance

Term insurance with a conversion privilege under which the insured may convert the policy to ordinary life, endowment, or other form of life insurance written by the insurer, without an additional medical examination.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • convertible-term insurance — A life insurance policy providing cover for a given period but which may be converted to eg a whole life policy at some time during this period at favourable terms • • • Main Entry: ↑convert …   Useful english dictionary

  • convertible term insurance — Fin term insurance that the policyholder can convert to fixed life insurance under particular conditions …   The ultimate business dictionary

  • convertible term insurance — Type of term insurance which may be changed to permanent (whole life) insurance carrying loan values, built in values, etc …   Black's law dictionary

  • term insurance — Life insurance under a contract providing protection for a stated number of years, subject to the payment of premiums, sometimes renewable without an additional medical examination, sometimes convertible to other forms of life insurance written… …   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

  • 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

  • convertible insurance — any form of life or health insurance, either individual or group, that enables the insured to change or convert the insurance to another form, as term to whole life insurance or group to individual health insurance. * * * …   Universalium

  • convertible insurance — any form of life or health insurance, either individual or group, that enables the insured to change or convert the insurance to another form, as term to whole life insurance or group to individual health insurance …   Useful english dictionary

  • readily convertible assets — Broadly, assets which are easily traded, such as stocks, shares, financial instruments, bullion or precious metals. The term also includes trade debts assigned to an employee, goods held in bonded warehousing, an interest in a trust, and a… …   Law dictionary

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