Compensation Glossary

# A B C D E F G H I J K L M N O P Q R S T U V W - Z

Annually Renewable Term (ART) Insurance

When a yearly renewable term insurance policy is purchased, the premium quoted is for the given year only. When an ART insurance policy is bought it is in fact a one year term policy and each year the rates will increase as your age increases if you choose to continue the coverage.
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Annualized Increase Percent (also, Equivalent Annual Percent Increase)

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Annuities and Annuity Contracts

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