What Does Cross Purchase Mean?

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What does Cross Purchase mean? Read on to discover the definition & meaning of the term Cross Purchase - to help you better understand the language used in insurance policies.

Cross Purchase

Cross Purchase

A form of business life insurance in which each member of a group purchases insurance on the other members of the group to ensure continuance of the business in the event one of the principals becomes disabled or dies.

We hope the you have a better understanding of the meaning of Cross Purchase.

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