MLchartDataset catalogue

Life insurance

Term · Law · MLC-T-LAW-003040

A contract between a policyholder and an insurer, where the insurer agrees to provide a lump-sum payment, known as a death benefit, to named beneficiaries when the insured person dies. In exchange, the policyholder makes regular premium payments to the insurer during their lifetime. Policies are categorized as either term life, which covers a specific period, or permanent life, which provides lifelong coverage.

Table 1. Record
IdentifierMLC-T-LAW-003040
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-003040",
  "term": "Life insurance",
  "field": "Law",
  "definition": "A contract between a policyholder and an insurer, where the insurer agrees to provide a lump-sum payment, known as a death benefit, to named beneficiaries when the insured person dies. In exchange, the policyholder makes regular premium payments to the insurer during their lifetime. Policies are categorized as either term life, which covers a specific period, or permanent life, which provides lifelong coverage.",
  "url": "https://mlchart.com/terminology/law/life-insurance/"
}

Record 2,993 of 5,439 in Law terminology (MLC-0107). Request the full dataset.