Extended Term Insurance Law and Legal Definition
Extended term insurance is a nonforfeiture option which may be included with insurance to extend the coverage for a limited period of time upon the failure of a policy-holder to pay the premiums. If premiums are not paid, any dividend additions or accumulations, minus any indebtedness, will be used as a single premium payment for that term. The term is limited to the period that the available funds will cover.
Legal Definition list
- Extended Services [Education]
- Extended Service Contract
- Extended Sentence
- Extended School Time (Education)
- Extended Over-Water Operation [Aeronautics and Space]
- Extended Term Insurance
- Extended Unemployment Compensation Account - EUCA
- Extended Voluntary Departure [EVD]
- Extended Warranty
- Extension of Approval [Mine Safety And Health Administration]
- Extension of Coverage (Health Care)
Related Legal Terms
- Accelerated Life Insurance Benefits
- Accident Insurance
- Accidental Death and Dismemberment [Insurance]
- Accommodation Line [Insurance]
- Accountants Professional Liability Insurance
- Accounts Receivable Insurance
- Actual Cash Value Insurance
- Actual Delivery of Insurance Policy
- Actuarial Documents [Federal Crop Insurance Corporation]
- Actuarially Appropriate [Federal Crop Insurance Corporation]