Who Does Life Insurance Cover?

Life insurance is a written contract between the insurance company and the life insurance policy owner.

The owner of the policy agrees to pay premiums to the insurance carrier in return for the carrier paying out a death benefit upon the death of the insured person, subject to the terms and conditions of the life insurance policy.

Life insurance covers the insured person, which is the person named as insured on the life insurance policy.  ​

If the insured person dies there is a death benefit paid out to the beneficiary of the policy, subject to the terms and conditions of the life insurance policy.

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