What Does Deposit Term Mean?

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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.

Deposit Term

Deposit Term

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.

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