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8 Cards in this Set

  • Front
  • Back
What is insurance?
possibility of loss, spread to many individuals
What is a insurance policy?
A contract between an insured and an insurance company whicj aagrees to apy in event of loss
Who is the insurer?
The company who issues the policy
Who is the insured?
The person covered by the policy of insurance.
Who is the policy owner?
The person who pays for the policy of insurance.
What is the beneficiary?
The person who receives the benefits from the policy of insurance.
What is a premium?
The money paid to the insurance company for the policy of insurance.
What is a death benefit?
The amount paid when a claim is issued aganist a policy of insurance