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

Per-service deductible

Understand the meaning and definition of Per-service deductible in the context of stock market, trading, and investments.

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Pre-existing condition

Understand the meaning and definition of Pre-existing condition in the context of stock market, trading, and investments.

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Loss exposure checklist

Understand the meaning and definition of Loss exposure checklist in the context of stock market, trading, and investments.

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Retrocession

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

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Book of business

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

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Abstract

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

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