Life Insurance (Noun)
Meaning
Insurance paid to named beneficiaries when the insured person dies; "in England they call life insurance life assurance".
Classification
Nouns denoting possession and transfer of possession.
Examples
- My wife was the life insurance beneficiary and received a payout after I passed away.
- Investors purchase life insurance for a set amount, and it can also serve as a type of investment portfolio.
- Life insurance costs can sometimes be too high for people who are already living on a tight budget.
- Those seeking life insurance who are over the age of 60 can expect a higher rate of premium than their younger counterparts.
- Although obtaining life insurance while suffering from an eating disorder may seem like a tall order, there are many insurance companies willing to give coverage.