universallife insurance

universal life insurance

a type of insurance in which the payments of the insured are placed in an investment fund, earnings from which pay the premium on term life insurance while any remainder continues to increase the policy's value.
Also called universal-life insurance.

universal-life, adjective
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
Cite This Source Link To universallife insurance
Explore Dictionary.com
Previous Definition: universallife
Next Definition: universally
More from Thesaurus.com
Synonyms and Antonyms for universallife insurance
More from Reference.com
Search for articles containing universallife insurance
Dictionary.com Word FAQs

Dictionary.com presents 366 FAQs, incorporating some of the frequently asked questions from the past with newer queries.

Copyright © 2014 Dictionary.com, LLC. All rights reserved.
  • Please Login or Sign Up to use the Recent Searches feature