For Life Insurance we have terms and definitions in 3 topics. The topics are Charitable Donation, Finance and Insurance.

Life Insurance (Charitable Donation)

An insurance policy that pays out a fixed amount upon the death of the person insured. Life Insurance can be used to fund a donation to the Betty Ford Center. The donor can purchase a policy (preferably a one or two payment whole life policy) and designates the Betty Ford Center as a beneficiary. Donors may also give paid-up policies as a donation or buy life insurance naming heirs as beneficiary to offset decrease in the estate's cash that was used to create a trust or that would have been received by retirement funds.

Life Insurance (Finance)

An insurance policy that pays a monetary benefit to the insured person's survivors after death.

Life Insurance (Insurance)

Insurance on human lives including endowment benefits, additional benefits in event of death or dismemberment by accident or accidental means, additional benefits for disability, and annuities.

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