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family income life insurance

Family income life insurance refers to a life insurance policy that combines whole life with decreasing term insurance.

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In the event of the insured's death prior to a specified date, the beneficiary is paid a monthly income benefit. If the insured lives beyond the specified date, the full face amount of the policy is paid to the beneficiary. This policy is designed to protect a family with young children.

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Family life insurance refers to a life insurance policy that combines whole life with term life...