Life insurance
Definition of Life insurance
See
under
Life
.
the
act
or
system
of
insuring
against
death
;
a
contract
by
which
the
insurer
undertakes
,
in
consideration
of
the
payment
of
a
premium
(
usually
at
stated
periods
),
to
pay
a
stipulated
sum
in
the
event
of
the
death
of
the
insured
or
of
a
third
person
in
whose
life
the
insured
has
an
interest
.
See also:
Insurance
Life
Related Words
endowment
insurance
,
insurance
,
life
assurance
,
ordinary
life
insurance
,
straight
life
insurance
,
tontine
,
tontine
insurance
,
whole
life
insurance
Word:
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