Automatic Premium Loan

Automatic Premium Loan,

Automatic Premium Loan Definition:

An optional term in life insurance that allows the insurance company to pay the cash value of any premium at the end of the additional period. This provision is useful to prevent accidental loss of policy.

Automatic Premium Loan definition is: An automatic premium loan in an insurance policy is a provision that allows the insurance company to deduct the unpaid premium from the policy amount when the premium is due. Premium car loan terms are often associated with monetary value in life insurance policies and allow the policy to remain valid rather than expiring due to non-payment of premiums.

The definition of Automatic Premium Loan is: The money taken from life insurance policies will help pay the premium after the end of the premium payment period.

You can define Automatic Premium Loan as, Provision of life insurance in which unpaid premiums are paid automatically at the end of the repayment period (usually 31 days) with the loan policy if the current value is sufficient.

The definition of Automatic Premium Loan is: In life insurance, there is an optional clause under which the insurer can pay any premium at the end of the discounted period from the current price.

Literal Meanings of Automatic Premium Loan

Automatic:

Meanings of Automatic:
  1. (Device or process) running alone with no other direct human control.

  2. This consciousness, without intention, is or is not created.

  3. A pistol that fires until the ammunition runs out or the trigger is released.

  4. Vehicles with automatic transmission

  5. Operating mode in which certain tasks of the device are performed automatically, not manually.

  6. Another term for sound

Sentences of Automatic
  1. Automatic kettle that shuts off during cooking

  2. Automatic bodily functions such as breathing

  3. Fast automation fire

  4. A five-speed automatic Mercedes 300SL

Synonyms of Automatic

mechanized, reflex, computerized, unconscious, instinctual, instinctive, push-button, electronic, preprogrammed, involuntary, unmanned, reflexive, unconditioned, subconscious, knee-jerk, robotic, automated, mechanical

Premium:

Sentences of Premium
  1. If the calculations are correct, the income of the pensionable worker includes the premium in addition to his salary which he has to pay to the insurance company to get equal rights.

Synonyms of Premium

extra, bonus, remuneration, extra charge, extra amount, surcharge, prize, insurance charge, instalment, additional fee, reward, recompense, insurance payment, percentage, perk, regular payment, additional payment

Loan:

Meanings of Loan:
  1. Some loans, especially money that must be repaid with interest.

  2. Debt (cash or assets)

  3. Narrow streets or paths, especially those leading to open spaces.

Sentences of Loan
  1. The borrower can apply for a loan of 84 84,000

  2. The word processing program was taken from the theater

Synonyms of Loan

credit, lend, allow, give credit, advance