insurance promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company
endowment insurance life insurance for a specified amount which is payable to the insured person at the expiration of a certain period of time or to a designated beneficiary immediately upon the death of the insured
tontine insurance,
tontine an annuity scheme wherein participants share certain benefits and on the death of any participant his benefits are redistributed among the remaining participants; can run for a fixed period of time or until the death of all but one participant
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Wiktionary
Substantiv
life insurance -
A form of insurance on the life of a person. If the person dies then the insurance policy pays out a sum of money to the policyholder such as a person's family.
OmegaWiki Dictionary
Ω
life insurance A transaction whereby either until the end date of the insurance an amount will be payed when someone dies or where on the end date an amount will be payed when someone is still alive.
