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GLOSSARY

 GLOSSARY TERMS by Alpha
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Lapse
Larceny
Latent defect
Leasehold interest insurance
Legal liability
Level Premium Life Insurance
Level term insurance
Liability Insurance
Liberalization clause
Life expectancy
Life insurance
Limited partnership
Limited pay policy
Liquor liability insurance
Living benefits
Loading and unloading exclusion
Long-term care insurance
Loss
Loss limit
Loss ratio
Loss trending
Lost policy release
Lum sum distribution

Limited pay policy

A whole life insurance policy which charges high premiums for the first 10-20 years of the policy so the policy owner won't have to pay any premiums later in life.

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