Additional deposit privilege

{
  "id": "MLC-T-INS-000318",
  "term": "Additional deposit privilege",
  "field": "Insurance and risk management",
  "definition": "A contractual provision in a life insurance policy or annuity that allows the policyholder to make extra payments beyond the scheduled premiums. These additional deposits typically accumulate cash value or increase the death benefit. The terms for these deposits, including minimum amounts and frequency, are specified within the policy contract.",
  "url": "https://mlchart.com/terminology/insurance/additional-deposit-privilege/"
}