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Old Line Insurance Company

Old Line Insurance Company

Definition

Old Line Insurance Company — a non-fraternal life insurance company that operates on a legal reserve basis. The term "old line insurance company" grew from the early competition between "new” fraternal life insurance companies and the commercial life insurance companies, which referred to themselves as old line legal reserve companies. Most fraternal life insurance companies now also operate on a legal reserve basis. Also known as old line legal reserve company.

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