mutual life insurance company
- mutual life insurance company
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A life insurance company which, while operating upon an old line basis with fixed premiums, cash surrender values, and policies issued strictly on an actuarial basis, has no stockholders its insureds, as members, taking the place of stockholders, is operated on the distinctive basis that net profits from operation shall inure entirely to members or insureds in the form of annual dividends. See mutual benefit society.
Ballentine's law dictionary.
Anderson, W.S..
1998.
Look at other dictionaries:
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