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Life insurance
A contract that pays the beneficiary a set sum of money upon the death of the policyholder. These plans pay benefits usually in the form of a lump sum, but they may be distributed as an annuity.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Labor
- Category: Labor statistics
- Company: U.S. DOL
- Product:
- Acronym-Abbreviation:
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