LIFEINSURANCE
Life insurance
Life insurance is a contract between an insured and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger payment. The policy holder typically pays a premium, either regularly or as a lump sum. Other expenses are also sometimes included in the benefits.The above text is a snippet from Wikipedia: Life insurance
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life insurance
Noun
- A form of insurance on the life of a person. If the person dies then the insurance policy pays out a sum of money to the policyholder (such as a person's family).
The above text is a snippet from Wiktionary: life insurance
and as such is available under the Creative Commons Attribution/Share-Alike License.