Ads
related to: events insured in life insurance- FAQs
Questions About Life Insurance
Get Advice and Free Quotes.
- Life Ins as Low as $18/mo
America's #1 Term Life Sales Agency
The Right Life Insurance for You
- Best Term Life
America's #1 Term Life
Insurance Sales Agency
- Start Free Quote
Fast & Easy Process,
Personalized Quotes.
- Find Affordable Life Ins.
Compare Policies with SelectQuote
Finding the Right Price for You
- A+ BBB Rating
SelectQuote Has A Better Business
Bureau Rating Of A+
- FAQs
Search results
Results From The WOW.Com Content Network
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person.
When the owner of a life insurance policy passes away before the insured, things can get a bit tricky. If the owner and the insured are different people, the policy doesn’t just disappear.
Subject to the "fortuity principle", the event must be uncertain. The uncertainty can be either as to when the event will happen (e.g. in a life insurance policy, the time of the insured's death is uncertain) or as to if it will happen at all (e.g. in a fire insurance policy, whether or not a fire will occur at all). [4]
Generally, an insurance contract includes, at a minimum, the following elements: identification of participating parties (the insurer, the insured, the beneficiaries), the premium, the period of coverage, the particular loss event covered, the amount of coverage (i.e., the amount to be paid to the insured or beneficiary in the event of a loss ...
Risks that can be insured by private companies typically share seven common characteristics. [4]Large number of similar exposure units.Since insurance operates through pooling resources, the majority of insurance policies are provided for individual members of large classes, allowing insurers to benefit from the law of large numbers in which predicted losses are similar to the actual losses.
Term life insurance or term assurance is life insurance that provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires, coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or potentially obtain further coverage with different payments or conditions.
Ads
related to: events insured in life insurancebestmoney.com has been visited by 100K+ users in the past month