Getting MarriedLife Insurance Terms
These definitions are courtesy of the American Council of Life Insurers
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
W
Waiver of premium A provision that sets certain conditions under which an insurance policy would be kept in full force by the company without the payment of premiums. The waiver is used most frequently for policyholders who become totally and permanently disabled.
Whole life insurance The most common type of permanent life insurance, in which premiums generally remain constant over the life of the policy and must be paid periodically in the amount specified in the policy. Also known as ordinary life insurance.