What is the definition of Payor benefit? | Dictionary.net

PAYOR BENEFIT

\pˈe͡ɪə bˈɛnɪfˌɪt], \pˈe‍ɪə bˈɛnɪfˌɪt], \p_ˈeɪ_ə b_ˈɛ_n_ɪ_f_ˌɪ_t]\

Definitions of PAYOR BENEFIT

1910 - Black's Law Dictionary (2nd edition)

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Usually present in juvenile policies, this provision states that in case the person who is responsible for making payments on behalf of the minor dies, or gets disabled, the rest of the premium will be waived off completely.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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