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Limited-payment whole life insurance
A
type of whole life insurance that does not require
premium payments during the entire lifetime of the
insured. Some limited-payment policies specify the
number of years during which premiums are payable,
while other policies specify an age after which
premiums are no longer payable. Single-premium whole
life insurance, in which only one premium payment
is made, is an extreme type of limited-payment insurance. |
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