Uploaded on Sep 8, 2020
Life Insurance is a contract between an insurance policyholder and an insurance company, where the insurer promises to pay a sum of money in exchange for a premium after a set period or upon the death of an insured person.
Life Insurance
Life Insurance An Introduction. Life Insurance is a contract between an insurance policyholder and an insurance company, where the insurer promises to pay a sum of money in exchange Definition for a premium after a set period or upon the death of an insured person. Life Insurance acts as financial protection for your family in case of your death or a payment made to you on surviving the policy term. In return for this payment, you make periodic fixed payments to the Life life insurance company. In certain types of policies, there is an option to get critical illness benefits or Insurance create additional protection for your family if you pass away from an accident. You can read about these features and types of life insurance policies below.
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