universal life insurance

noun

a type of insurance in which the payments of the insured are placed in an investment fund, earnings from which pay the premium on term life insurance while any remainder continues to increase the policy's value.

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Also called universal-life insurance.

Related forms

u·ni·ver·sal-life, adjective

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Based on the Random House Dictionary, © Random House, Inc. 2012.
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Universal life insurance is always a great word to know.

So is ninnyhammer. Does it mean:

a fool or simpleton; ninny.

an arrangement of five objects, as trees, in a square or rectangle, one at each corner and one in the middle.

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