Additional term insurance option

{
  "id": "MLC-T-INS-000324",
  "term": "Additional term insurance option",
  "field": "Insurance and risk management",
  "definition": "A provision in a life insurance policy that permits the policyholder to purchase extra term life coverage at specific intervals or under certain conditions. This option allows for an increase in the death benefit without requiring a new medical examination. The additional coverage is usually for a fixed period, such as five or ten years.",
  "url": "https://mlchart.com/terminology/insurance/additional-term-insurance-option/"
}