Posted on July 20, 2013July 20, 2013
A form of Life Insurance that provides a death benefit which declines throughout the term of the contract, reaching zero at the end of the term.
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The attainment of a benefit right by a participant, attributable to employer contributions, that is not contingent upon a participant’s continuation in specified employment. See also Contingent Vesting, Deferred Vesting, and Immediate Vesting.