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Waiting Period

The period of time between the beginning of a disability and the date benefits begin.

Whole Life

A life insurance policy that runs for the entire life of the individual, that is, until death. Premiums for a whole life policy may be paid for the whole life or for a limited period, during which a higher premium pays up the policy.

Worker's Compensation

Insurance that employers are required to have to cover employees who get sick or injured on the job. A state-mandated program providing insurance coverage for work-related injuries and disabilities.


In insurance terms, to insure. It also means to underwrite or to sell insurance.