DISABILITY INSURANCE Definition

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DISABILITY INSURANCE, in the United States, is a payroll tax required in some states that is deducted from employee paychecks to insure income during periods where an employee is unable to work due to an injury or illness.

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PAYDOWN is the systematic reduction in principal of a mortgage- or asset-backed security resulting in a series of principal payments, either scheduled or unscheduled.

INVESTMENT TURNOVER is a profitability measure used to calculate the number of times per year an investment or assets revolve.

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