- insurance, life
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n.A contract in which the insurer agrees to pay a specified sum to a named beneficiary when the insured dies.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
insurance, life
Look at other dictionaries:
life insurance — n: insurance providing for the payment of money to a designated beneficiary upon the death of the insured see also endowment insurance ordinary life insurance: whole life insurance in this entry straight life insurance … Law dictionary
insurance — in·sur·ance /in shu̇r əns, in ˌshu̇r / n 1: the action, process, or means of insuring or the state of being insured usu. against loss or damage by a contingent event (as death, fire, accident, or sickness) 2 a: the business of insuring persons or … Law dictionary
Insurance in the United States — refers to the market for risk in the United States of America. Some main features of insurance could be said to be, *the benefit provided by a particular kind of indemnity contract, called an insurance policy; *that is issued by one of several… … Wikipedia
life assurance — ➔ assurance * * * life assurance UK US noun [U] UK INSURANCE ► LIFE INSURANCE(Cf. ↑life insurance) … Financial and business terms
life assurance or insurance — a contractual arrangement under which, in return for a stipulated premium, a life assurance company undertakes to pay, on the death of the life assured or on the occurrence of such other events as may be agreed, a specified sum of money. Collins… … Law dictionary
Life insurance — The foundation of life insurance is the recognition of the value of a human life and the possibility of indemnification for the loss of that value. F. C. Oviatt, Economic place of insurance and its relation to society[1] Life insurance is a… … Wikipedia
insurance — /in shoor euhns, sherr /, n. 1. the act, system, or business of insuring property, life, one s person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a… … Universalium
Insurance — This article is about risk management. For Insurance (blackjack), see Blackjack. For Insurance run (baseball), see Insurance run. In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a… … Wikipedia
insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… … Black's law dictionary
insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… … Black's law dictionary
