family income policy

noun

Definition of family income policy

: a term insurance policy on the life of a breadwinner providing special income benefits beyond the face amount that continue for the remainder of the child-rearing period after the death of the insured

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“Family income policy.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/family%20income%20policy. Accessed 29 Oct. 2020.

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