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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.
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]
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
Suicide clause: Life insurance policies generally cover death by suicide, but not while the suicide clause is in effect, which is typically the first two years of the policy. After this period ...
Whole life insurance is a permanent policy that remains in force for your entire life, as long as premiums are paid and guarantees a death benefit.
A suicide clause is standard in the majority of issued life insurance policies. The suicide clause is in place to prevent individuals from purchasing a life insurance policy when they are ...
In contract law, an integration clause, merger clause, (sometimes, particularly in the United Kingdom, referred to as an entire agreement clause) [1] is a clause in a written contract which declares that contract to be the complete and final agreement between the parties. It is often placed at or towards the end of the contract.
Guaranteed life insurance is a whole life policy, meaning it offers coverage for your entire lifetime. When you do pass away, your beneficiaries can begin the death benefit claim process to help ...