Life insurance terminology shouldn't be confusing. Here is the definition of insured.
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The person for whom the life insurance policy is covering. If the insured dies, this will cause the death benefit to be paid out to the designated beneficiary (or beneficiaries). Typically, this will be the policyholder, but is not always the case (i.e. one spouse is the policyholder, but the other spouse is the person being insured).
Updated July 28, 2021 | 1 min read
Life insurance terminology doesn't have to be confusing. Here are definitions of the most common terms and phrases you'll find in a policy.
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Once you officially have life insurance, you’ll get a policy that goes into the nitty-gritty of your coverage. We’ve broken down what it all means.
Updated July 28, 2021 | 7 min read
The death benefit is the tax-free payout your beneficiaries receive if you die; it's essentially what you're paying for when you sign up for life insurance coverage.
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