All posts in: Life Insurance

Life insurance is a contract between an insurance policyholder and an insurer or assurer. The insurer promises to pay a sum of money to a designated beneficiary upon the insured person’s death (often the policyholder). Other events, such as terminal illness or critical illness, may also trigger payment depending on the contract. The policyholder usually pays a premium, which can be spent on a regular basis or in one lump sum. Other expenses, such as funeral costs, may be covered by the benefits.

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