Permanent

  • The ... company is to determine for itself which of its plans are to be treated as term insurance and which as permanent.
  • The original instructions gave as a suggested definition of term insurance "that it is any policy with a premium rate less than 90% of the no profits rate for Ordinary Life...

1949 - REPORT OF THE COMMITTEE ON MORTALITY UNDER
ORDINARY INSURANCES AND ANNUITIES, Society of Actuaries - 12p