Life insurance, sometimes referred to as life assurance, provides for a payment of a sum of money upon the death of the insured. In addition, life insurance can be used as a means of investment or savings.

A type of insurance that pays a benefit upon the death of the insured party. Also known as death coverage.
Any insurance relating to a risk depending on human life. This includes contracts providing payment on the insured person's death, endowments providing payment either on survival to a specified date or on earlier death and annuities which are paid throughout the annuitant's lifetime but cease on death.

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