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Finance Dictionary and Glossary of Investment Terms
Life Insurance
Definition 1.
A protection against the lost income that would result if the insured were to pass away. The named beneficiary receives the proceeds and is thereby safeguarded from the financial impact of the death of the insured.
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Definition 2.
An insurance policy that pays a monetary benefit to the insured person's survivors after death.
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Definition 3.
Insurance to be paid to a beneficiary when the insured dies.
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