The dollar amount to be paid to the beneficiary when the insured dies. It does not include other amounts that may be paid from insurance purchased with dividends or any policy riders. The policy remains in force throughout this period. An option that permits the policy holder to buy additional stated amounts of life insurance at stated times in the future without evidence of insurability. Health insurance A policy that will pay specifies sums for medical expenses or treatments.
Health policies can offer many options and vary in their approaches to coverage.
An elective combination of coverages for the risks of owning a home. Can include losses due to fire, burglary, vandalism, earthquake, and other perils. A policy provision in which the company agrees not to contest the validity of the contract after it has been in force for a certain period of time, usually two years. Insurer The insurance company. A policy that will pay a specified sum to beneficiaries upon the death of the insured.