Please Define the Following Key Terms

question 16

Essay

Please define the following key terms. Show Who? What? Where? When? Why Important?
-Chaldeans

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Definitions:

Premiums

Payments made for insurance coverage, often periodically, to keep the insurance policy active and the insured protected against specified risks.

Insurable Interest

The financial interest that a policyholder has in the person or property that is insured.

Life Insurance

An insurance contract that provides monetary compensation for losses suffered by another’s death.

Beneficiary

A third party receiving benefits from a contract made between two other parties. Also, the person named in an insurance policy to receive benefits paid by the insurer in event of a claim.