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Life Policy 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. Loan Sum of money provided by a bank to a client for a fixed period of time and subject to interest payments Logo Symbol or image that identifies a company. |
