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Deferred Payment
An arrangement that allows payment to be made at a later date, often used in installment purchases or loans.
Group-Term Life Insurance
A type of life insurance where coverage is provided to a group of people by an employer or association, often at a lower cost than individual policies.
Taxable
Refers to income or transactions that are subject to tax by federal, state, or local taxing authorities.
Premiums
Payments made periodically to an insurance company by policyholders for coverage or to maintain a policy.
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