Examlex
Regarding beneficiaries,if the promisee is making a gift,the third party is called a _______ beneficiary.
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.
Fire Insurance Policy
A contract that provides coverage against losses or damages caused by fire to property.
Premium
The consideration paid by the insured to the insurer for insurance protection.
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