Life Insurance
Reference: https://thismatter.com/money/insurance/types/life/life-insurance-fundamentals.htm Reference https://www.iii.org/publications/insurance-handbook/insurance-basics/life-insurance-basics Reference :https://www.quickquote.com/glossary/#i Insurance is a means of protection from financial loss. or we can say it is a contract of reimbursement. It is a form of risk management . Insured : A person or entity who buys insurance is known as an insured or as a policyholder. insurer: An entity which provides insurance is known as an insurer, insurance company, insurance carrier or underwriter . I nsurance policy : The insured receives a contract , called the insurance policy , which details the conditions and circumstances under which the insurer will compensate the insured. Premium : The amount of money charged by the insurer from the insured for the coverage set forth in the insurance policy is called the pr...