MLchartDataset catalogue

Burial policy

Term · Law · MLC-T-LAW-000803

An insurance contract designed to pay for a policyholder's funeral, cremation, and other final expenses upon their death. The death benefit is a fixed amount, usually modest, and is paid to a named beneficiary who then settles the costs with the funeral home. These policies are a form of whole life insurance, meaning they do not expire as long as premiums are paid.

Table 1. Record
IdentifierMLC-T-LAW-000803
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-000803",
  "term": "Burial policy",
  "field": "Law",
  "definition": "An insurance contract designed to pay for a policyholder's funeral, cremation, and other final expenses upon their death. The death benefit is a fixed amount, usually modest, and is paid to a named beneficiary who then settles the costs with the funeral home. These policies are a form of whole life insurance, meaning they do not expire as long as premiums are paid.",
  "url": "https://mlchart.com/terminology/law/burial-policy/"
}

Record 608 of 5,441 in Law terminology (MLC-0107). Request the full dataset.