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periodic purchase deferred contract

periodic purchase deferred contract definition - business

periodic purchase deferred contract

A deferred annuity purchased with a series of premium payments. For example, an individual might obtain a lifetime monthly income by making annual premium payments to an insurance company prior to retirement. Compare single-premium deferred annuity.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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