Question

Define Life insurance along with its elements?​

Answer 1

Answer:

A life insurance policy can has two main components - a death benefit and a premium. Term life insurance has these two components, but permanent or whole life insurance policies also have a cash value component. Premium – Premiums are the money the policyholder pays for insurance

Answer 2

Answer:

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A life insurance policy can has two main components - a death benefit and a premium. Term life insurance has these two components, but permanent or whole life insurance policies also have a cash value component. Premium – Premiums are the money the policyholder pays for insurance.

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