What does life insurance mean?

insurance

What does life insurance mean?

What is life insurance?
The insurer pledges to pay a certain amount (insurance amount) for the life and death of the policyholder or a third party,
The policyholder agrees to pay the insurer the premium
Life insurance, unlike damage insurance, regardless of whether there is damage or small or large, when an accident occurs
The concept of insurance benefits is not generally recognized.
As a peculiar effect of the life insurance contract, the insurer is responsible for the termination of the contract or the payment of the insurance amount
The obligation to pay back the premium reserve at the time of exemption and the dividend benefit obligation in dividend insurance.

In addition, the policyholder has the right to designate and change the beneficiary of the insurance
When the insurance beneficiary is designated or changed after the insurance contract is concluded, it shall be obliged to notify the insurer.
The insurance contractor, whether natural or legal,
There is no limit to the person who can be insured, but the insured person must have it determined.