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Indeterminate premium life insurance
A type of nonparticipating
whole life insurance that specifies both a maximum
potential premium rate and a lower premium rate.
The lower rate is paid by the policyowner for a
specified period (from 1 to 10 years) immediately
after the policy is purchased. Later, the premium
rate may fluctuate according to the investment earnings
of the insurance company, but the premium rate will
never be larger than the maximum premium rate. |
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