Term Life Insurance to Trustee Definitions
A B C D E F G H I J K L M N O P R S T U V W Y
T
- Term Life Insurance
- Usually low cost life insurance that pays a death benefit upon the
death of the insured but does not have an investment or cash
accumulation provision in the policy.
- Termination
- The cancellation of an insurance policy by either the policyowner or
the insurance company.
- Tertiary Beneficiary
- A beneficiary that is third in line for the proceeds of a life
insurance policy following the primary and secondary beneficiaries,
if either of them should predecease the insured.
- Trustee
- According to the term of a trust, the person who is designated to
act as guardian and manage or use the property for the benefit of
the trust recipients.
