Life Insurance Definition In English

Insurance against theft or damage. After the term stated in original contract expires, the sum of money paid to insurance company will need to be renegotiated and will often increase.

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A condition that states that the life insurance company will not require the insured to pay the usual recurring fee to maintain the life insurance policy if the insured person becomes disabled.

Life insurance definition in english. At the death of the insured person or on the date of maturity whichever happens earlier, the amount insured will be paid. A system in which you make regular payments to an insurance company in exchange for a fixed…. There are different kinds of insurance.

Term life insurance or term assurance is life insurance that provides coverage for some sum of money during a given period of time. A type of insurance that pays money to the family of someone who has died. Life insurance proceeds are usually not included in the probate of a dead person's estate, but the funds may be counted by the internal revenue service in calculating estate tax.

In life insurance, someone ensures their life or someone else's life. Securus, safe, free from care] farlex partner medical dictionary © farlex 2012. Translation memories are created by human, but computer aligned, which might cause mistakes.

There are more insurance plans that fall into these two categories, each with their own benefits and drawbacks. They come from many sources and are not checked. Life insurance noun insurance providing for payment of a sum of money to a named beneficiary upon the death of the policyholder or to the policyholder if still living after reaching a specified age.

N life assurance, usually low in cost and offering no cash value, that provides for the payment of a specified sum of money only if the insured dies within a stipulated period of time. Life insurance can help defray costs of the funeral, pay off the estate's debts, and may provide for the survivors' (notably a widow or widower) future. ' life insurance ' also found in these entries:

There are life insurance and general insurance. Business coverage under a contract in which one party agrees to compensate another for a loss:. Enseurer, to make certain, fr.

Found 0 sentences matching phrase proprietary life insurance company.found in 3 ms. A type of insurance in which you make regular payments so that you receive a sum of money when you are a particular age, or so that your family will receive a sum of money when you die. Term life insurance lasts for a specific amount of time (the term) and expires at the end of the term.

A type of insurance in which you make regular payments so that you receive a sum of money when you are a particular age, or so that your family will receive a sum of money when you die. Whole life insurance, on the other hand, is a form of permanent life insurance and lasts your entire life. Life insurance is a form of insurance in which a person makes regular payments to an insurance company, in return for a sum of money to be paid to them after a period of time, or to their family if they die.

Life insurance is used before these nouns: Learner's definition of life insurance. Depending on the contract, other events such as terminal illness.

American heritage® dictionary of the english language, fifth edition. Insurance that guarantees a specific sum of money to a designated beneficiary upon the death of the insured or to the insured if he or she lives beyond a certain age. The definition of a disability can vary from one life insurance company to another, and policies can vary based on when and for how long they will waive.

Business [uncountable] the act, system, or business of insuring property, life, etc., against loss or harm in return for payment. 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 (or life assurance, especially in the commonwealth of nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder).

A system in which you make regular payments to an insurance company in exchange for a fixed…. Life insurance is a contract in which an insurer, in exchange for a premium, guarantees payment to an insured’s beneficiaries when the insured dies. Life′ insur′ance, business insurance providing for payment of a sum of money to a named beneficiary upon the death of the policyholder or to the policyholder if still living after reaching a specified age.

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