Encyclopedia article covering topics such as types, principles, indemnification, the insurance industry, and controversies.
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This article is about insurance in finance. For the side bet known as "insurance" in the card game of blackjack, see
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of a contingent loss. Insurance is defined as the equitable transfer of the risk of
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Health insurance like other forms of
by means of which people collectively pool their risk, in this case the risk of incurring medical expenses. It is sometimes used more broadly to include insurance covering
needs. It may be provided through a
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Encyclopedia article describing life insurance. Includes explanations of costs, death benefits, types, taxes, and history.
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Life insurance or life assurance is a contract between the policy owner and the
, where the insurer agrees to pay a designated beneficiary a sum of money upon the occurrence of the insured
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A life settlement generally refers to the sale of a life insurance policy by a policyowner for less than the face value but more than cash-surrender value of the policy to third party investors.
The third
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A viatical settlement is the sale of a
owner before the policy matures. Such a sale, at a price discounted from the face amount of the policy but usually in excess of the premiums paid or current
, provides the seller an immediate cash settlement. Generally,
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and discuss the issue on the
Long-term care insurance ( LTC or LTCI ), an
, helps provide for the cost of
beyond a predetermined period. Long-term care insurance covers care generally not
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