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

双语律师Peter，毕业于法国一流的高级翻译学院，擅长翻译涉及基础建设领域的法律文件。