Individual life insurance

{
  "id": "MLC-T-INS-001818",
  "term": "Individual life insurance",
  "field": "Insurance and risk management",
  "definition": "A contract between an individual policyholder and an insurer, providing a death benefit to designated beneficiaries upon the insured's passing. This coverage is distinct from group life insurance, which covers multiple individuals under a single policy. The policyholder typically pays regular premiums for the duration of the contract or until a specified age.",
  "url": "https://mlchart.com/terminology/insurance/individual-life-insurance/"
}