Life Insurance Meaning In English. There are life insurance and general insurance. Life insurance is a contract between an insurance policy holder and the insurance provider (known as the insurer) that guarantees to pay the designated amount to the beneficiary in case of the death of the insured person.
A system in which you make regular payments to an insurance company in exchange for a fixed…. At the death of insured person or on the date of maturity whichever happens earlier, the amount insured will be paid. Life insurance can be used to establish a trust, define your legacy, set up an annuity, fund a charity of your choice, and much more.
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Least expensive alternative treatment (leat): And canadian) insurance relating to life, health, or accident and covering several persons, esp. The employees of a firm, under a single contract at reduced premiums life insurance It is simply a broad perspective on the topic of life insurance.