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• A provision in a life insurance policy that any premium not paid by the end of the grace period (usually 31 days) will be automatically paid by a policy loan if there is sufficient cash value.

  Alabama Department of Insurance - Cite This Source - This Definition
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  Cite Definition for Automatic Premium Loan

  American Psychological Association (APA)

  Automatic Premium Loan. (n.d.). Glossary of Life Insurance Terms. Retrieved June 10, 2023, from website: http://www.expertglossary.com/definition/automatic-premium-loan.

  Chicago Manual of Style (CMS)

  Automatic Premium Loan. www.aldoi.gov. Glossary of Life Insurance Terms. Alabama Department of Insurance. http://www.expertglossary.com/definition/automatic-premium-loan (accessed: June 10, 2023).

  Modern Language Association (MLA)

  "Automatic Premium Loan." Glossary of Life Insurance Terms. Alabama Department of Insurance. 10 June. 2023 http://www.expertglossary.com/definition/automatic-premium-loan.

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