First Penn-Pacific Adds Refund Option.Like other insurers, First PennPacific Life Insurance Co. writes term life policies with the intent of keeping annual premiums level for up to 30 years, but it guarantees level premiums for the first 10. To give customers more peace of mind, the Schaumburg Schaum·burg A village of northeast Illinois, a suburb of Chicago. Population: 74,900. , Ill.-based company has introduced STO STO Store (calculator function) STO Société de Transport de l'Outaouais (French) STO Strategic Technology Office (DARPA) STO Security Through Obscurity STO Service to Others PRO, a premium-refund option available on its STO 15-, 20- 25- and 30-year term plans. Under the option, a policyowner may request a premium refund TO REFUND. To pay back by the party who has received it, to the party who has paid it, money which ought not to have been paid. 2. On a deficiency of assets, executors and administrators cum testamento annexo, are entitled to have refunded to them legacies if a premium increase is announced during the current level-premium period. The option is available only on the first premium increase, and the policyowner must make the request within 60 days of receiving notice of the increase. The refund is a multiple of the first-year adj. 1. Being in the first year of an experience especially in a U. S. high school or college; - of a person. Adj. 1. first-year - used of a person in the first year of an experience (especially in United States high school or college); "a annual premium, typically three to four times the amount, excluding rider charges and the policy fee. Coverage terminates if the option is exercised. The company does not expect to raise rates during the level-premium period, but the refund can help the client in the event of an unforeseen premium increase, said President Roland Roland (rō`lənd), the great French hero of the medieval Charlemagne cycle of chansons de geste, immortalized in the Chanson de Roland (11th or 12th cent.). C. Baker. STO products are renewable to age 95. The products come in six rate classes and carry a minimum face amount of $100,000. Conversions to permanent life insurance are allowed during the level-premium period or to age 70 if that occurs earlier. The refund is subject to state approvals and may vary by state. |
|
||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion