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

法律翻译王漾，在一家顶尖英国律师事务所的上海办公室担任全职法律翻译，专注翻译各类与大中华业务有关的法律文件。