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bonded vs. insured

[ bon-did ]
  1. secured by or consisting of bonds: bonded debt.
  2. placed in bond: bonded goods.
  3. made of two layers of the same fabric or of a fabric and a lining material attached to each other by a chemical process or adhesive: bonded wool.
[ in-shoord, -shurd ]
  1. the person, group, or organization whose life or property is covered by an insurance policy.

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