How Does Ordinary Life Insurance Work?

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    David RacichPRO
    Fountain Hills, Arizona
    Usually Ordinary Life is an antiquated adjective description of participating whole life insurance. Participating whole life insurance doesn't not disclosure the moving mortality components of the policy as does universal life insurance. But being said, the life insurance company declares an annual dividend, which by definition is a return of unused premium. The dividend can purchase a variety of policy options and riders like term insurance, paid up insurance, premium payments, limited payments, reduced paid up, etc.
     
    Answered on May 31, 2013
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