Term Life Insurance

Friday, September 30, 2016
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Life Insurance Glossary

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Nonassignable Policy:
Prohibits a policy owner from transferring the rights of a policy to a third party.

Nonparticipating Policy (non-par):
Life insurance policy from which the policy owner does not receive dividends from the insurance company's surplus.

Notice of Cancellation :
A written notice stating that the insurer will cancel a policy or that the insured is requesting the cancellation of the policy.


For more reference, click on any of the letters below to find life insurance terms that begin with that letter.
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