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 Glossary   >   L   >   "Life Insurance" Definition   

        Life Insurance

A protection against the lost income that would result if the insured were to pass away. The named beneficiary receives the proceeds and is thereby safeguarded from financial impacts of the death of the insured.

Any insurance relating to a risk depending on human life.

This includes contracts providing payment on the insured person"s death, endowments providing payment either on survival to a specified date or on earlier death and annuities which are paid throughout the annuitant"s lifetime but cease on death.

Life Insurance
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Life Insurance - A protection against the lost income that would result if the insured were to pass away. The named beneficiary receives the proceeds and is thereby safeguarded from financial impacts of the death of the insured.

Any insurance relating to a risk depending on human life.

This includes contracts providing payment on the insured person"s death, endowments providing payment either on survival to a specified date or on earlier death and annuities which are paid throughout the annuitant"s lifetime but cease on death.


Life Insurance : a protection against the lost income that would result if the insured were to pass away. the named beneficiary receives the proceeds and is thereby safeguarded from financial impacts of the death of the insured.

any insurance relating to a risk depending on human life.

this includes contracts providing payment on the insured person"s death, endowments providing payment either on survival to a specified date or on earlier death and annuities which are paid throughout the annuitant"s lifetime but cease on death.