Life insurance terms and definitions seem to have come from another planet. Who can understand it? Well, this non-Martian life insurance glossary of life insurance terms and definitions should help. ABack to Top Absolute Assignment:The transfer of ownership of a life insurance policy to a separat...
The meaning of LIFE INSURANCE is insurance providing for payment of a stipulated sum to a designated beneficiary upon death of the insured.
The meaning of WHOLE LIFE INSURANCE is a type of life insurance that costs the same as long as the insured person is alive and that pays benefits to survivors when the person has died.
See standard life insurance terms explained in an easy-to-understand format. No need for an insurance Ph.D. to understand these definitions.
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Premium The cost of maintaining a life insurance policy. Term life insurance A life insurance policy that lasts for only a set number of years. » MORE: Essential life insurance definitions and termsDifferent types of life insurance These are the most basic types of life insurance on the mark...
» MORE: Essential life insurance definitions and terms Who needs life insurance? Like all insurance, life insurance was designed to solve a financial problem. Life insurance is important because when you die, your income disappears. If you have a spouse, kids or anyone dependent on you financ...
Life insurance can bring financial peace of mind to beneficiaries. Browse Investopedia’s expert written library to learn about companies, policies, and more.
Voluntary life insurance, an optional benefit often offered by employers, is a plan that provides a cash benefit upon the death of the insured.
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