What does Ordinary Life Insurance mean? Read on to discover the definition & meaning of the term Ordinary Life Insurance - to help you better understand the language used in insurance policies.
Ordinary Life Insurance
Ordinary life insurance is a type of life insurance in which policyholders pay premiums for their whole lives at a set price and interval. However, ordinary life insurance policies are often considered paid up if the policyholder reaches 100 years of age. Ordinary life insurance is a term that is often used interchangeably with "whole life insurance."
We hope the you have a better understanding of the meaning of Ordinary Life Insurance.