A solar array consists of one or many such panels. A photovoltaic array, or solar array, is a linked collection of solar panels. The power that one module can produce is seldom enough to meet requirements of a home or a business, so the modules are linked together to form an array.
The policy owner is the contract owner and is, in many cases, also the life insured. The policy owner has most of the rights in the contract such as the right to designate a named beneficiary and make changes to that designation at any time.
bank-owned life insurance (BOLI). A life insurance policy issued by a bank as an employee benefits vehicle, whereby the bank is listed as the primary beneficiary. The policy is set up with a fund where premiums are deposited and claims are paid out. This type of policy allows the bank to accumulate funds tax-free.