reduced paid-up insurance
[ peyd-uhp ]
noun
life insurance in which a nonforfeiture value is used to purchase a reduced amount of fully paid-up insurance of the same kind as the surrendered policy.
Words Nearby reduced paid-up insurance
- red trillium
- reduce
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- reducer
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Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2024
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