Respuesta :
In the initial class, the insurer is required to pay the death benefit. A contract between a policyholder and an insurance provider is what is meant by life insurance.
What is Life Insurance ?
A life insurance agreement is signed by the insurer and the insured. A life insurance policy guarantees that the insurer will pay a specific sum to designated dependents upon the insured's death in exchange for the insurance premiums paid by the policyholder over the course of the policy's whole term.
Individual policies include long-term care insurance policies that provide hospital or medical coverage to an insured on an expense incurred or service basis, except from for certain diseases or unintentional injuries.
- A life insurance policy is a legally enforceable arrangement that pays out to the policyholder in the eventuality that the insured perishes.
- A single premium upfront or recurring premiums over time must be paid for a life insurance plan to remain in force.
- If the insured passes away, the policy's face value, or death benefit, will be paid to the chosen beneficiaries.
- Term life insurance plans have a specified number of years before they expire. Until the insured person dies, the premiums are discontinued, or the policy is relinquished, constant life insurance plans are in force.
- A life insurance policy can only be as good as the firm that issues it in terms of financial stability. State assurance funds may pay claims if the provider is unable to do.
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