Common Contracts
1 similar Insurance Contract contracts
Types of InsuranceInsurance Contract • October 17th, 2020
Life Insurance: A contract of life insurance (also known as ‘life assurance’) is a contract whereby the insurer undertakes to pay a certain sum either on the death of the insured or on the expiry of a certain number of years. In return, the insured agrees to pay an amount as premium either in a lump sum or in periodical instalments, annually, half-yearly, quarterly or monthly.
