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premium loan

American  

noun

Insurance.

  1. a loan made by a life-insurance company in order that a policyholder may pay the due premium, the cash value on the policy serving as security.

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.