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Glossary   >   L   >   "Life of another" Definition            Life of another A life assurance policy taken out on the life of another person by the policyholder. For example a man may take out a life assurance policy (where he is the policyholder that is, the assured) on the life of his wife (the life assured) in order to cover various expenditures (for example a nanny for children) should the death of his wife occur. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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Life of another - A life assurance policy taken out on the life of another person by the policyholder. For example a man may take out a life assurance policy (where he is the policyholder that is, the assured) on the life of his wife (the life assured) in order to cover various expenditures (for example a nanny for children) should the death of his wife occur.