Life Insurance Meaning In English

There are different kinds of insurance.

Life insurance meaning in english. Insurance providing for payment of a stipulated sum to a designated beneficiary upon death of the insured. Marine insurance was useful only to persons engaged in some kind of trade. A person who calculates the value of something [eg:

The policy holder typically pays a premium, either regularly or as one lump sum. Life assurance in british english noun a form of insurance providing for the payment of a specified sum to a named beneficiary on the death of the policyholder A person who calculates risks for insurance companies maggie loves maths so she's thinking of becoming an actuary.:

The procedure a life insurance company uses to decide whether to insure an applicant, and at what rate. A rider is a provision in a life insurance policy by which value of the base policy can be enhanced based on various options. After the term stated in original contract expires, the sum of money paid to insurance company will need to be renegotiated and will often increase.

From longman business dictionary life insurance ˈlife inˌsurance [uncountable] insurance insurance that pays out an amount when someone dies, or, with an endowment policy, when someone reaches a particular age or dies syn life assurance life insurers will pay a total of $20 billion in aids death claims under individual life insurance policies by the end of the decade. Life insurance 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 in exchange for a premium, upon the death of an insured person. (british english) to have adequate insurance cover (north american english) to have adequate insurance coverage (british english) an insurance scheme (north american english) an insurance plan;

A clause in an insurance policy that indicates that the insurer will only cover the least expensive option for treatment, repair, or remediation. Health insurance covers cost of an insured individual's medical and surgical expenses. It is simply a broad perspective on the topic of life insurance.

Fire insurance was started after marine insurance. This term refers to the individual whose life is covered under the insurance policy. Insurance premiums (= the regular payments made for insurance) see also employment insurance, life insurance, national insurance.