Life insurance
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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 (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policy holder typically pays a premium, either regularly or as one lump sum. Other expenses, such as funeral expenses, can also be included in the benefits.
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See also
- Corporate-owned life insurance
- Critical illness insurance
- Economic capital
- Estate planning
- False insurance claims
- General insurance
- Internal Revenue Code section 79
- Life expectancy
- Pet insurance
- Retirement planning
- Return of premium life insurance
- Segregated funds
- Servicemembers' Group Life Insurance
- Term life insurance
- Tontine
Unless indicated otherwise, the text in this article is either based on Wikipedia article "Life insurance" or another language Wikipedia page thereof used under the terms of the GNU Free Documentation License; or on research by Jahsonic and friends. See Art and Popular Culture's copyright notice.
