old line policy

old line policy
A policy of life insurance in which the amount to be paid by the insured is fixed, the premiums to be paid are unalterable, and the liability incurred by the insurance company is also fixed, definite, and unchangeable. Clark v Metropolitan Life Ins. Co, 126 Me 7, 9, 135 A 357, 358.

Ballentine's law dictionary. . 1998.

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