life insurance

An agreement between an insurance company and the policyholder to pay a specified amount to a designated beneficiary on the insured’s death.

— Also termed (in Britain) assurance. See ASSURANCE(2). [Cases: Insurance 1011. C.J.S. Insurance §§ 10–14.]

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词条贡献者

双语律师Benita，国际知名法学院金融专业，擅长翻译各类与项目开发及融资相关的法律文件。