What does Minimum Deposit Policy mean? Read on to discover the definition & meaning of the term Minimum Deposit Policy - to help you better understand the language used in insurance policies.
Minimum Deposit Policy
A cash value life insurance policy having a first-year loan value available for borrowing immediately upon payment of the first year premium. It is generally held that the life insurance must be in force for 4 years before borrowing can occur.
We hope the you have a better understanding of the meaning of Minimum Deposit Policy.