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 ?
Laguna conducts Class I life assurance business, and was placed into run-off in November 2009.
If you have young children and a partner who doesn't work, then you might need a lot of life assurance.
Provided that the correct procedures are followed, you may still be able to benefit from the tax-efficiency of your brother having written his life assurance policy in trust and be able to deduct the value of his outstanding mortgage from the value of his estate.
Life assurance cannot replace a loved one, nothing can, but the money that it provides can hold a family together and bring hope for the future.
And 85 per cent of those who do not have life assurance wrongly believe that their mortgage protection payments or critical illness cover would help the family by paying off the mortgage if they died.
I tried a couple of sites, but couldn't find any life assurance.
The court then analyzed the rates used by Great West Life Assurance Company in relation to these requirements.
Nancy Amiel, a spokesperson for Equitable Life Assurance Society said, "With the number of leases for Equitable Life Assurance Society locations in New York City due to expire in 1996 and 1997, the company, like most other businesses, is examining other leasing opportunities with the objective of reducing expenses and improving operations efficiency.
Country: IrelandSector: InsuranceTarget: Irish Life LtdBuyer: The Canada Life Assurance Company, The Great-West Life Assurance CompanyType: PrivatisationStatus: Speculation, Talks
Of course, those with no dependants have no need of life assurance, but those who do should consider it very carefully.
Top Canada Life Insurers Capital & Surplus 2007 (C$ Billions) Manufacturers Life Insurance Company [06688] Great-West Life Assurance Company [06493] Sun Life Assurance Company of Canada [07101] Canada Life Assurance Company [06183] London Life Insurance Company [06667] Industrial Alliance Insurance & Financial [06554] Independent Order of Foresters [60132] Standard Life Assurance Co [66846] Munich Reinsurance Company [Canadian Branch) [66862] RBC Life Insurance Company [66806] Source: Best's Aggregates & Averages
NORDIC BUSINESS REPORT-20 March 2003-Skandia receives licence to conduct life assurance business in Beijing(C)1994-2003 M2 COMMUNICATIONS LTD http://www.