Quarter Horses owe their breed name from their ability to run a fast quarter mile. However, while Quarter Horses are great sprinters they are not so good at longer distances. They don't have the running stamina to race over a ten furlong course (about 2 km or 1 1/8 m) like their Thoroughbred counterparts.
(1) a policy record for each insurance contract or policy for six calendar years after the date the policy is no longer in force or until after the filing of the report on examination in which the record was subject to review, whichever is longer.
It takes the form of universal life policies sold with âsecondaryâ or âno. lapseâ guarantees. Universal life policies will normally expire (âlapseâ) if the cash or account value. dwindles to the point that it is insufficient to cover a policyâs ongoing charges for insurance and. expense costs. With the no-lapse feature or âsecondary guarantee,â the policies promise to stay in.