Meaning of “TEP” in the English Dictionary

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"TEP" in Business English

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TEPnoun [ C ]

uk us UK

abbreviation for Traded Endowment Policy: an endowment policy (= an agreement to pay money regularly so that you will receive a large sum of money at a later date) that is sold before it ends:

The buyer of a TEP takes over responsibility for payment of the premiums.

(Definition of “TEP” from the Cambridge Business English Dictionary © Cambridge University Press)