Comments

Comment by janalali1971 Nov. 02,2008 nice +1

Comment by vonkaka Nov. 02,2008 hit

Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured individual's or individuals' death. In return, the policy owner (or policy payer) agrees to pay a stipulated amount called a premium at regular intervals or in lump sums.

As with most insurance policies, life insurance is a contract between the insurer and the policy owner (policyholder) whereby a benefit is paid to the designated Beneficiary (or Beneficiaries) if an insured event occurs which is covered by the policy. To be a life policy the insured event must be based upon life (or lives) of the people named in the policy.
Insured events that may be covered include:

* death
* accidental death
* Sickness

Life policies are legal contracts and the terms of the contract describe the limitations of the insured events.

report this image

Category News & Politics

Tags Term, Life, Insurance, Auto, Health