No-Lapse Guarantee Definition:
The insurance company's ongoing contract is to maintain the life insurance policy on an ongoing basis, but its value can be zero or negative if the agreed minimum premium is paid consistently.
Approval to implement the insurance company's Universal Life Insurance Policy, even if the current value is less than or equal to zero, provided the minimum premium requirements provided in the policy are met.
Literal Meanings of No-Lapse Guarantee
Meanings of No:
do not do that.
Voting, such as a negative reaction or decision.
The answer was no.
Not at all, not at all.
do not do that.
The chemical element noblem.
Sentences of No
For no reason
Yes No I can't change automatically
Synonyms of No
cold shoulder, no thanks, by no means, disapproval, absolutely not, cold-shouldering, of course not, dismissal, refusal, no, no indeed, never, negation, not really, veto, declining, turndown, rejection, turning down, under no circumstances, rebuff, non-acceptance, most certainly not, spurning, snub, snubbing
Meanings of Lapse:
Concentration, memory or temporary decision failure.
Interval or lapse of time.
(Right, Privilege or Agreement) is invalid because it is not used, claimed or renewed.
Move slowly (fewer states or states)
Sentences of Lapse
The game suffered a setback due to a lack of concentration in the second set
There is a long way between the two events.
My academy membership has expired
The country fell into chaos
Synonyms of Lapse
fail, deteriorate, interlude, out of date, void, lull, discontinued, terminated, decline, degenerate, intermission, invalid, error, pause, rot, expired, wane, dereliction, failure, blunder, regress, worsen, omission, sink, fall off
Meanings of Guarantee:
A formal promise or guarantee (usually in writing) that certain conditions will be met, especially that a product will be repaired or replaced if the set standards and durability are not met.
Formal obligation to pay third party debts or meet third party obligations in the event of default. Anything that acts as a suicide attack for a formal commitment to pay someone else's debt.
In particular, provide a formal guarantee or promise that certain conditions related to a product, service or transaction will be met.
Sentences of Guarantee
We offer a 10 year warranty against rust.
The thief makes sure that the dirt will get at least 20 ounces of gold
Synonyms of Guarantee
undertaking, commitment, warrant, covenant, bond, settlement, understanding, warranty, compact, agreement, promise, assurance, contract, pledge, arrangement