Additional Term Insurance Option

1 minuteread by Gary Huddleston

Additional Term Insurance Option — an option available under participating life insurance policies where the policyholder can request the insurance company to use a policy dividend as a net single premium to purchase a 1-year term life insurance policy on the policyholder’s life. Also known as a fifth dividend option. There are other ways to add term insurance to a permanent insurance policy, usually by adding riders for additional term coverage.

1 minuteread by Gary Huddleston

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