Thursday, May 3, 2007

Life insurance

About term life insurance and life insurance quote.

What is life insurance?

  • A policy that will pay a specified sum to beneficiaries upon the death of the insured

  • Insurance in which the risk insured against is the death of a particular person, the insured, upon whose death while the policy is in force, the insurance company agrees to pay a stated sum or income to the beneficiary

  • Insurance on human lives including endowment benefits, additional benefits in event of death or dismemberment by accident or accidental means, additional benefits for disability, and annuities

  • Insurance providing payment of a specified sum of money to a beneficiary when the insured dies

  • Insurance providing for payment of a specified amount on the insured's death, either to his or her estate or to a designated beneficiary; or in the case of an endowment policy, to the policy holder at a specified date

  • The amount the surviving party will receive in the event of death

  • Life insurance, sometimes referred to as life assurance, provides for a payment of a sum of money upon the death of the insured. In addition, life insurance can be used as a means of investment or saving

  • An alternative phrase used to describe Life Assurance (see Assurance described above)

  • insurance where a policyholder's dependents receive a cash lump sum if he or she dies

  • Life insurance for which the premium remains the same from year to year

  • Any form of life insurance except term; generally insurance that builds up a cash value, such as whole life

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