Insurance

Graded Premium Policy

This particular type of whole life policy caters to individuals seeking a higher level of life coverage but are unable to afford it at the moment. It involves paying a lower premium rate that gradually increases within the initial three to five years before stabilizing for the remainder of the policy's duration.

Related terms

Utmost good faith

Understand the meaning and definition of Utmost good faith in the context of stock market, trading, and investments.

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Accelerated death benefit

Understand the meaning and definition of Accelerated death benefit in the context of stock market, trading, and investments.

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Annuity Certain

Understand the meaning and definition of Annuity Certain in the context of stock market, trading, and investments.

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Replacement cost

Understand the meaning and definition of Replacement cost in the context of stock market, trading, and investments.

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Vesting Bonus

Understand the meaning and definition of Vesting Bonus in the context of stock market, trading, and investments.

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Noncancellable

Understand the meaning and definition of Noncancellable in the context of stock market, trading, and investments.

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