The policyholder is the one who proposes the purchase of the life insurance policy and pays the premium (see #7.

What is life insurance in simple words. Insurance prompts the holder of the insurance that after you ,your family is the responsibility of mine.that is, the insurance. Insurance is a way of reducing your potential financial loss or hardship. The person who gets something from a benefactor—at least that’s the broad definition.

Life insurance (or life assurance, especially in the commonwealth of nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to. July 31, 2023 by admin 1 : Let's know insurance meaning in simple words.

The company that provides you the policy. An agreement by which a person pays a company and the company promises to pay money if the person becomes. It is the person who is covered under the insurance policy proposer:

What is insurance simple words? Let us understand some commonly used terms in life insurance: Unexpected events such as theft, illness or property damage.

Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. What is insurance in simple words class 11? A type of life insurance with a limited coverage period.

Life insurance is an important plan for the unexpected — it offers financial protection to your loved ones if you die suddenly by replacing your income. It can help cover the cost of. Once that period or term is up, it is up to the policy owner to decide whether to renew or to let the.