Life insurance.Life insurance is a sign between the policy owner and the insurer, where the insurer agrees to give money a sum of money upon the occurrence of the policy owner's death. In return, the policy owner agrees to pay a stipulated amount called a premium at regular intervals.As with most insurance polices, life assurance is a sign between the insurer and the policy owner whereby a benefit is paid to the designated Beneficiary if an insured event occurs which is covered by the policy. To be a life policy the insured event must be based upon life of the people named in the policy. Insured events that may be covered include:
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