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American life insurance policy


American life insurance policy

The life insurance policy in America is the legal framework that regulates the relations and mutual rights between the parties to the insurance relations, which result from the insured’s undertaking to bear the burden of certain risks during the agreed time period.

American life insurance policy

It should be noted that the parties to the insurance relationship are not fixed in all life insurance policies, but rather differ in terms of type and number from one life insurance policy in America to another.

In a life insurance policy, there may be only two parties: the insurer, the insurance company, and the contracted insured, as if a person insures his life and for the benefit of himself, as if a person buys a life insurance policy that includes him obtaining an amount of 25000 pounds if he is alive at the age of 30 years.

In this case, we find that the insured represents three people, namely the insured, the insured, and the beneficiary. On the other hand, the life insurance policy may direct three independent parties, and they are “the insured, the insured and the beneficiary.” For example, a person insures his life for the benefit of another person.

If a person contracts with an insurance company with a contract that guarantees his wife an amount of 30,000 pounds in the event of his death at any time, for example, in this case the contracting party is the insured and the insured, and the insurance company is the insurer and the wife is the beneficiary.

Deferred mixed insurance in America

It is known as the mixed insurance for the child, so that the name is different depending on the difference of the beneficiary. If the person who benefits from the insurance is a child, it is called child insurance. If the beneficiary is a child with another person, it is known as deferred mixed insurance.

In this insurance, the company undertakes to pay the agreed amount in the insurance, at the end of the time period that was agreed upon. This insurance is suitable for people who want to provide a sum of money for children when they reach a certain age. In order to provide their own supplies.

Pension insurance

This type of insurance is one of the types that are concerned with providing sums of money at a specific time. It is used to pay people's pensions. The money can also be paid in the form of pensions, after the death of the person. This is done over agreed time periods.

Temporary insurance

With the refund of premiums, this insurance is considered one of the insurance, in which the insurance company pays the agreed amount of money upon the death of the person. And also pay them to the beneficiaries. In the case of his life throughout the insurance period, the company returns the premiums that he paid. Young people also take out this insurance, in order to obtain protection for themselves and their families.


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