Horney seniors chat room
However, a person may make anybody the beneficiary of the policy.
The insurance policy is a legal contract between the insurer and the insured.
At the same time, there is a bit of commerce involved in this.
However, if you buy a policy for your spouse, you are the policy owner while your spouse is the insured person.The objective of this limitation is to prevent misuse of the policy and give insurance cover only to the deserving parties.Types of insurance policies Though there are many types of life insurance policies available on the market, most of them can be broadly classified into two categories.Term Insurance Term insurance is a kind of temporary insurance that would provide a death benefit for a certain period of time. Term insurance is not as costly as permanent insurance.Universal / Permanent / Whole Life insurance These types of insurance policies are mostly bought by those who see insurance as a means of investment.