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What is Understanding Life Insurance Basics about?

Life insurance is a contract between a policy owner and insurer where the insurer agrees to pay a beneficiary upon the death of the insured. The policy owner pays regular premiums in return. There are two main types of policies - protection policies that pay a lump sum death benefit, and investment policies that allow the growth of capital through premiums. Insurers calculate policy prices using mortality tables to determine expected claims and costs while still making a profit.

Author

jega78

Language

EN