Life Insurance Meaning at Life

Life Insurance Meaning. Term life insurance meaning also states that it is a type of pure life insurance policy, which provides comprehensive financial protection and security to your loved ones against any uncertainty of life. Life insurance) life insurance is insurance that pays a sum of money to you after a period of time, or to your family when you die.

So, let’s understand life insurance meaning in details. Which, the insurance company as the risk guarantor will pay a sum of money when there is a risk of death to the insurance policy holder or the insured. The insurer agrees to pay a predetermined quantity of money (also known as sum assured or cover amount) upon the insured person's death or after a specified period of time under this contract.

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( laɪf ɪnʃʊərəns) or life assurance. Life insurance is a financial protection plan to safeguard a family's financial future when the policyholder is no longer in a situation to support. It can help minimise the financial impact that your death could have on your family and offer peace of mind to those you care about most. Life insurance policies are designed to cover the risk of premature death.