Life insurance

(redirected from life)
Also found in: Dictionary, Thesaurus, Medical, Legal, Acronyms, Idioms, Encyclopedia, Wikipedia.

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 classic literature ?
Were they consistently pitiful, then would they make their neighbours sick of life.
And ye also, to whom life is rough labour and disquiet, are ye not very tired of life?
If there is a God and future life, there is truth and good, and man's highest happiness consists in striving to attain them.
Realism, in the broad sense, means simply the presentation of the actual, depicting life as one sees it, objectively, without such selection as aims deliberately to emphasize some particular aspects, such as the pleasant or attractive ones.
The life of her governess, as she calls her, who had run through, it seems, in a few years, all the eminent degrees of a gentlewoman, a whore, and a bawd; a midwife and a midwife-keeper, as they are called; a pawnbroker, a childtaker, a receiver of thieves, and of thieves' purchase, that is to say, of stolen goods; and in a word, herself a thief, a breeder up of thieves and the like, and yet at last a penitent.
I was taken home, nervous and overwrought, sick with the invasion of my real life by that other life of my dreams.
Nobody seemed interested in the wantonly imperilled life.
For him, indeed, human life is, in the first instance, only an additional, and as it were incidental grace, upon this expressive landscape.
With a face full of light and thought, full of a subtle, complex inner life, that was remote from Levin, she was gazing beyond him at the glow of the sunrise.
Perhaps the value of liberty cannot be known until it has been experienced; and the memories of the freedom of my childhood had been almost effaced by the irksome and dreary life at school, from which my spirits had scarcely recovered.
They have got to live a man's life, pushing all these things before them, and get on as well as they can.
It was needless for him to ask that, for it was pleasant to him to feel them in his palm, and look at their bright faces, which were all his own: it was another element of life, like the weaving and the satisfaction of hunger, subsisting quite aloof from the life of belief and love from which he had been cut off.