What does Deposit Term mean? Read on to discover the definition & meaning of the term Deposit Term - to help you better understand the language used in insurance policies.
Has modest endowment feature. Normally is sold for 10-year terms with a higher first-year premium than for subsequent years. If policy lapses, insured forfeits the "deposit" and receives no refund.
We hope the you have a better understanding of the meaning of Deposit Term.