premium loan

A loan made to an insured by the insurer to enable the insured to pay further premiums.

• The reserve value of the policy serves as collateral. [Cases: Insurance 1868, 2037. C.J.S. Insurance §§ 352–356, 518–519, 742–745, 749–754.]

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词条贡献者

译者Jenna，毕业于法国顶尖的高级翻译学院，擅长翻译有关互联网与电子商务领域的法律文件。