Indeterminate premium life insurance
Term · Insurance and risk management · MLC-T-INS-001808
A type of whole life insurance policy where the premium amount can change over time. The policy is issued with a guaranteed maximum premium, but the actual premium paid in a given year may be lower, based on the insurer's current experience with mortality, expenses, and investment returns. If the insurer's experience is favorable, the policyholder pays a lower, non-guaranteed premium; if it is unfavorable, the premium can rise but not above the stated maximum.
| Identifier | MLC-T-INS-001808 |
|---|---|
| Field | Insurance and risk management |
Record as JSON
{
"id": "MLC-T-INS-001808",
"term": "Indeterminate premium life insurance",
"field": "Insurance and risk management",
"definition": "A type of whole life insurance policy where the premium amount can change over time. The policy is issued with a guaranteed maximum premium, but the actual premium paid in a given year may be lower, based on the insurer's current experience with mortality, expenses, and investment returns. If the insurer's experience is favorable, the policyholder pays a lower, non-guaranteed premium; if it is unfavorable, the premium can rise but not above the stated maximum.",
"url": "https://mlchart.com/terminology/insurance/indeterminate-premium-life-insurance/"
}
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