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Target Pension - Target pension is the sum pension that one wishes to get under a pension policy.

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Tax-Deferral - Postponing the payment of income taxes till some point in the up coming future, normally at retirement.

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Tax-Payer Identification Number (TIN) - It is a policy owner's Social Security number. The insurer should have a certified tax-payer ID number to shun backup maintenance when there is taxable gain.

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Ten-Year Level Term - A Term Life insurance policy with a level death advantage where the insurance premium stays the same for ten years.

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Term Conversion - Many Term policies come with exchange rights assuring that, for a particular period of time, the policy could be converted to an enduring plan for the equal amount of coverage, without having to give additional proof of insurability.

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Termination - Termination of a policy on the insurance policy owner's crash to pay the insurance premium within the grace period.

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Term Insurance Rider - An support or attachment to a life insurance policy, which offers additional term insurance coverage for only a particular, limited period.

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Term Life Insurance - A life insurance plan, which offers death benefit guarding only and for a particular period of time (term). The policy pays profits only if the insured expires during the term.

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Tertiary Beneficiary - In life insurance, a beneficiary had chosen as third in line to get the takings or benefits if the main and secondary beneficiaries do not live the insured.

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Third-Party Owner - A policy owner who is not actually insured.

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Thirty-Year Level Term - A Term Life insurance policy with a level death profit where the premium stays the same for thirty years.

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Trust - A legal instrument permitting one party to control property for the advantage of another.

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Transfer for Value - Transfer of the ownership of a life insurance agreement for expensive consideration.

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Twenty-Year Level Term - A Term Life insurance policy with a certain level of death benefit where the insurance premium stays the same for twenty years.

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Twisting - The practice of suggest by falsification, or imprecise or incomplete contrast, a insurance policy holder in one company to slip, surrender or forfeit his insurance policy for the purpose of taking out a policy in another company.

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