Legal Definition life insurance noun : insurance providing for the payment of money to a designated beneficiary upon the death of the insured see also endowment insurance — ordinary life insurance : whole life insurance in this entry — straight life insurance : whole life insurance in ...
As is the case with any kind of permanent policy, it's important to thoroughly research all insurers being considered to ensure they're among thebest whole life insurance companiescurrently operating. Uses of Whole Life Insurance As with any kind of life insurance, a whole life insurance policy...
Define life insurance. life insurance synonyms, life insurance pronunciation, life insurance translation, English dictionary definition of life insurance. n. Insurance that guarantees a specific sum of money to a designated beneficiary upon the death of
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Company-owned life insurance policies can help cover the expenses associated with replacing an insured employee upon that person’s death. Because companies used COLI policies to exploit tax loopholes, the Internal Revenue Service now requires that they meet certain conditions to receive a tax-free ...
Life Insurance An insurance policy where, in exchange for a premium, the insurance company pays a certain benefit to the survivors of the policyholder upon his/her death. Life insurance can help defray costs of the funeral, pay off the estate's debts, and may provide for the survivors' (no...
Life insurance definition Life insurance is a type of insurance policy that financially protects and provides for chosen beneficiaries—typically immediate family members—in the event of thepolicyholder’s death. A life insurance policy can help cover anything from health care and funeral costs to hou...
Best term life insurance companies Frequently asked questions What is term life insurance? Term life insurance offers temporary coverage for a set length of time — often 10, 20 or 30 years — and provides a payout to your life insurance beneficiaries if you die during that time. Do I need...
years or until age 65) and that may be redeemed at face value if the insured is alive at the end of the specified period. Thus, payment is made regardless of whether the insured lives or dies, although the cost of the policy is quite high compared with other types of life insurance. ...
Whole life insurance definition How does whole life insurance work? The cost of whole life insurance and why it’s so high Is whole life insurance a good investment? More about top-rated life insurance companies Looking for a different type of life insurance policy? Check out NerdWallet’s top...