Examlex
Which type of buyer needs is contingent on and often the result of conditions related to the specific environment, time, and place?
Guaranteed Insurability
An insurance policy feature that allows the policyholder to buy additional coverage without proof of insurability at designated times.
Life Insurance
A contract between an insurer and a policyholder in which the insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured.
Insured
A person, company, or entity covered under an insurance policy to receive compensation for a specified loss or damage.
Premium
The amount paid for an insurance policy, reflecting the cost of coverage.
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