Life Insurance Contract
Life Insurance This is a contract between a person and an insurance company. This contract will pay a specified amount of money when the insured person dies passes away; to a person the insured individual designated. ... The amount of insurance is stated in the policy schedule. ... If the person chooses to make quarterly premiums it will be more expensive because the insurance company can not collect as much interest as it would with annual premiums. ... The following are general provisions that are involved with life insurance: SUICIDE: The insurance company will not pay dividends if a person commits suicide within two years from the date issued.