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In simple words, the person who pays the premiums is the policy owner while the person who is covered by the policy is the insured person. Most of the life insurance policies do not cover deaths due to man-made events.
These include riots, commotion, suicide and many other similar things.
Whenever you’re online at the same time as one of your added friends, you will be able to see that on your friend’s list.
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There is an accumulation of money in these types of policies and there is a minimum sum assured to the beneficiary at the maturity of the policy. Prima facie, they are doing a good work by insuring people against any untoward incident.
At the same time, it also provides peace of mind to the living person.Death is the only thing that is certain in this world.Since we live in a society, the first thought that comes to our mind is how to protect those who are dependent on us.However, a person may make anybody the beneficiary of the policy.
The insurance policy is a legal contract between the insurer and the insured.
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