- premium loan
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a loan made by a life-insurance company in order that a policyholder may pay the due premium, the cash value on the policy serving as security.
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Universalium. 2010.
premium loan
Look at other dictionaries:
premium loan — noun : a loan made in the amount of and for the purpose of paying a premium due upon a life insurance policy and constituting a lien against the policy * * * Insurance. a loan made by a life insurance company in order that a policyholder may pay… … Useful english dictionary
premium loan provision — The provision frequently found in life insurance contracts that upon the failure of the insured to pay a premium within a time stipulated for payment, the insurer, without more, will pay the premium in insured s behalf and charge it as a loan… … Ballentine's law dictionary
automatic premium loan — noun : an insurance policy loan made automatically to cover a premium due and unpaid at the end of the grace period … Useful english dictionary
premium — A reward for an act done. Brown v. Board of Police Com rs of City of Los Angeles, 58 Cal.App.2d 473, 136 P.2d 617, 619. See also bonus A bounty or bonus; a consideration given to invite a loan or a bargain, as the consideration paid to the… … Black's law dictionary
Loan modification in the United States — Loan modification, the systematic alteration of contactual mortgage loan agreements, has been practiced in the United States since the 1930s. During the Great Depression loan modification programs took place at the state level in an effort to… … Wikipedia
Premium Financing — involves the lending of funds to a person or company to cover the cost of an insurance premium. Premium finance loans are often provided by third party finance entity known as a Premium Financing Company ; however insurance companies and… … Wikipedia
premium — premium, prize, award, reward, meed, guerdon, bounty, bonus are comparable when they mean something which is bestowed upon a person as a recompense for cooperation, greater effort, superior merit, or supremacy in competition. Premium is applied… … New Dictionary of Synonyms
Premium — Pre mi*um, n.; pl. {Premiums}. [L. praemium, originally, what one has got before or better than others; prae before + emere to take, buy. See {Redeem}.] 1. A reward or recompense; a prize to be won by being before another, or others, in a… … The Collaborative International Dictionary of English
premium — [prē′mē əm] n. pl. premiums [L praemium, reward, recompense < prae , before + emere, to take: see PRE & REDEEM] 1. a reward or prize, esp. one offered free or at a special low price as an added inducement to buy or do something; bonus 2. an… … English World dictionary
premium — /pree mee euhm/, n. 1. a prize, bonus, or award given as an inducement, as to purchase products, enter competitions initiated by business interests, etc. 2. a bonus, gift, or sum additional to price, wages, interest, or the like. 3. Insurance.… … Universalium
