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What does life insurance mean?

Looking for the meaning or definition of the word life insurance? Here's what it means.

Noun
  1. (insurance) A form of insurance on the life of a person. If the person dies then the insurance policy pays out a sum of money to the policyholder (such as a person's family).
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Examples
In a past job, I was a quantitative analyst for an asset manager that had a life insurance company as a client.
Aviva joins a growing band of hard-pressed life insurance companies putting the slide rule over their Irish operations in a bid to cut costs.
His publications were not confined to questions relating to life insurance policies however.
Independent guides on life insurance and general insurance will be published in the autumn.
Endowment Mortgages use an endowment policy to provide life insurance and save funds to repay the loan at the end of the term.
Revenue has also grown largely as a result of increased mortgage lending and also through the sale of life insurance and pensions.

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