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Term life insurance
Life insurance that provides protection for a specified period of time. Common policy periods are one year, five years, 10 years or until the insured reaches age 65 or 70. The policy doesn't build up any of the nonforfeiture values associated with whole life policies.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Insurance
- Category: Life insurance
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