What is the Definition of Life Insurance?

What is the Definition of Life Insurance?

Protection against the death of a policyholder in the form of a payment to a beneficiary. (See Ordinary life insurance; Term insurance; Variable life insurance; Whole life insurance)

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Life Insurance?

What is the Definition of Life Insurance?

You can find random definition and meaning of insurance terms below:


Meaning of Direct Premiums in Insurance Terms

Property/casualty premiums collected by the insurer from policyholders, before reinsurance premiums are deducted. Insurers share some direct premiums and the risk involved with their reinsurers.


Meaning of Direct Sales/Direct Response in Insurance Terms

Method of selling insurance directly to the insured through an insurance company’s own employees, through the mail, by telephone or via the Internet. This is in lieu of using captive or exclusive agents.


Meaning of Direct Writers in Insurance Terms

Insurance companies that sell directly to the public using exclusive agents or their own employees, through the mail, by telephone or via the Internet. Large insurers, whether predominately direct writers or agency companies, are increasingly using many different channels to sell insurance. In reinsurance, denotes reinsurers that deal directly with the insurance companies they reinsure without using a broker.


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