Category
Life Insurance
4 terms explained in plain English, with Indian context.
- BeneficiaryThe person or entity named in a life insurance policy to receive the death benefit when the insured dies.
- Death BenefitThe amount of money paid to the beneficiary when the insured person dies.
- Term Life InsuranceA type of life insurance that provides coverage for a specific period of time (the 'term').
- Whole Life InsuranceA type of permanent life insurance that remains in force for the insured's whole life, providing a death benefit and a cash value compone...