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Life Insurance Policy

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Life Insurance


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Life Insurance

Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the policy owner's death. In return, the policy owner (or policy payer) agrees to pay a stipulated amount called a premium at regular intervals.
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Life Insurance

Life insurance is a legal agreement between the insured and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured's death. While the policy is active, the insured agrees to pay a premium at regular intervals, which is generally either monthly or annually. Assets, Bills, and death expenses plus catering for after funeral expenses should be included in Policy Premium. Anyone whose assets equal more than the value of their primary residence should not be compensated beyond that value in case they cannot sell their house. In the case of those whose lost their spouse should be compensated also for one full year the wages of their spouse which would or should be included to avoid lawsuits.

Insurance

Promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company.



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