Insurance Exam Vocabulary Terms
Long Duration Contracts
Contracts, excluding financial guaranty contracts, mortgage guaranty contracts and surety contracts, that fulfill both of the following conditions: (1) the contract term is greater than or equal to thirteen months and (2) the insurer can neither cancel nor increase the premium during the contract term.
Other terms you may be interested in:
Our Insurance Exam Prep Includes...
- Hundreds of Insurance Practice Test Questions (that apply to your state)
- Insurance Vocabulary Flashcards
- Study-Mode & Timed-Exam Mode
- Take Unlimited Tests For 1 Year
- User-Friendly On All Devices
- 2024 Updated Material
- Insurance Exam Tip Videos
- Support From Licensed Instructor
- Insurance Terms & Glossary
- Pass Money Back Guarantee
