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Conceptually,what are the "expected frequencies" telling us?
Insured
For life insurance, the person whose life is being insured; for other types of insurance, the person who receives the benefit of the insurance.
Semiannual Premiums
Insurance payments made twice a year as part of an insurance policy's terms.
Life Policy
An insurance contract that pays a beneficiary upon the death of the insured, or after a certain period.
Quarterly Premiums
Payments made every three months for insurance policies or other agreements requiring regular fees.
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