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fixed premium |
Also found in: Financial | 0.02 sec. |
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fixed premium, n a specified amount charged for insurance that is not changed by such factors as family size or initial year versus maintenance year of dental care coverage. Also called set premium. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Although insurers offer several options, financial experts recommend two products: variable universal life insurance, which combines life insurance with a policyholder-driven investment component; and traditional whole life insurance, which offers guaranteed returns and fixed premium payments. Fitch's example: A 50-year-old male buys a $1 million death benefit with a fixed premium of $12,000 a year. Thus, the future liabilities are transferred to an insurer in exchange for a fixed premium. |
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