What Is An Economatic Life Insurance Policy?
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaThe life insurance industry lacks severe uniformity in its semantics, so that being said I’m addressing the question within the realm of a few possibilities. Economatic Life Insurance is sometimes defined as a participating whole life policy with a term rider to decrease the premium cost to the policy payer. In days gone by it was the method of monthly premium via a bank draft.Answered on June 2, 2013+41+1 this answer
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63333 POINTSview profilePeggy MaceMost of the U.S.Economatic life insurance, also called economy life insurance, is a combination of whole and term life insurance. The dividends paid by the participating whole life go toward changing the term coverage to whole life, so that by the end of a set number of years, the goal is that the entire policy is whole life.Answered on June 2, 2013flag this answer
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