plan completion insurance

Plan Completion Insurance

An insurance policy for persons who have agreed to buy mutual fund shares in a periodic payment plan. If the policyholder dies before he/she has finished buying shares on the periodic payment plan, the insurance policy will purchase the remainder of the shares the policyholder agreed to purchase. This allows the policyholder's heirs to benefit from the mutual fund.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

plan completion insurance

A life insurance policy for people who purchase mutual fund shares as part of a periodic payment plan. In the event of the participant's death before completion of the contract, plan completion insurance pays an amount sufficient to complete the remaining payments.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
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