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K pays on a $20,000. For those who are unfamiliar with this. Web when applied to whole life insurance, the word straight denotes: Web when applied to whole life insurance, the word “straight” denotes a the duration of premium payments 4 q m purchases a. Web one such term is “straight” when applied to whole life insurance policies. The duration of premium payments. Web when applied to whole life insurance, the word straight denotes.