Insurance cover providing for the payment by the company of a certain sum should a certain event relating to the insured’s life occur.
According to the event concerned, policies can be:
whole of life, where payment is made upon the death of the insured;
term, which provides for payment at the expiry of the contract of a sum (arrived at by the premiums paid increased by the agreed yield year by year), or a life annuity. If the insured dies before expiry, the company pays the premiums paid to the heirs.
Sum of money provided by a bank to a client for a fixed period of time and subject to interest payments
Symbol or image that identifies a company.