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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 upon the death of an insured person (often the policyholder). Depending on the contract, other events such as terminal ...
Certain health insurance policies: Some life insurance policies have living benefits that allow you to use a portion of your death benefit if you are facing a chronic, critical or terminal illness ...
This type of policy is particularly beneficial for older individuals or those with health conditions that might make it difficult to get other types of life insurance coverage. Death benefits for ...
Life insurance can help provide financial support for monthly expenses, debts, education costs and dependent care. Policies often cover both accidental and natural causes of death, but certain ...
Universal life insurance. Universal life insurance (often shortened to UL) is a type of cash value [ 1] life insurance, sold primarily in the United States. Under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy, which is credited each month with interest ...
Whole life insurance. Whole life insurance, or whole of life assurance (in the Commonwealth of Nations ), sometimes called "straight life" or "ordinary life", is a life insurance policy which is guaranteed to remain in force for the insured's entire lifetime, provided required premiums are paid, or to the maturity date. [ 1]
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