Life insurance

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Life insurance

An insurance policy that pays a monetary benefit to the insured person's survivors after death.

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' (notably a widow or widower) future. There are two main types of life insurance. Term life insurance lasts only for a certain period of time and pays the death benefit only if the policyholder dies during that time. Whole life insurance lasts as long as the policyholder remains alive and provides a savings component against which the policyholder can borrow under most circumstances.

Life insurance.

Life insurance is a contract you sign with an insurance company, obligating it to pay a death benefit of a certain value to the beneficiaries you name.

In most cases, the payment is made at the time of your death, but certain policies allow you to take a portion of the death benefit if you are terminally ill and need the money to pay for healthcare.

You may select either term or permanent insurance. With a term policy, you are insured for a specific period of time. When the term ends, you must renew the policy for another term or change your coverage. Otherwise, you're no longer insured. With a permanent policy, you can buy coverage for your lifetime.

You pay an annual premium, typically billed monthly or quarterly, for the coverage. The insurer sets the cost, based on your age, health, lifestyle, and other factors. With a permanent policy, your premium is fixed, but with a term policy it typically increases when you renew your coverage to reflect the fact that you're older.

References in periodicals archive ?
The American Council of Life Insurers has included those figures in the first chapter of the ACLI 2017 Fact Book, a 186-page life insurance industry encyclopedia.
Rather, these companies must deal with a complex mix of elements, one that places severe top- and bottom-line pressure on life insurers and will do so for years to come.
Banks and life insurers might be able to make each other sick.
For US life insurers, expected delays in further Fed rate increases and flight-to-safety buying of US government bonds has pushed Treasury yields to near-record lows.
Life insurers have been suffering from negative spread as a result of sluggish financial markets, eating into their core profits.
Further, over 93% of subprime-related fixed income securities held by life insurers are rated 'AAA' or 'AA', which provides significant structural protection to higher-than-expected mortgage defaults.
Under the current law, life insurers are required first to return their foundation funds to major creditors before assigning them newly floated shares, so that the creditors may become their shareholders.
Japan's top 10 life insurers reported as of Tuesday a 3.
EDS: ADDING MORE INFORMATION) Japan's top 10 life insurers on Monday reported declines in their solvency margins, the result of severe business conditions marked by negative spreads between their guaranteed yields to policyholders and returns on their own investments.
SBLI also led all life insurers in the state in 2005 in total number of policies in force, number of new policies issued, insurance issued, and net growth in insurance in force.
The failure of Kyoei, Japan's 11th largest life insurer, came only 11 days after Chiyoda Mutual Life Insurance Co.
The world's second-largest economy, Japan long has been an attractive target for foreign life insurers, said Timothy Feige, a Japan-based senior vice president with Prudential Financial Inc.

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