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The life insurance contract is expressed in a document known as ________.

  • The life insurance contract is expressed in a document known as Policy.
  • A life insurance policy is a legal contract between the policyholder (the person who owns the policy) and the insurance company.
  • The policy outlines the terms and conditions of the insurance coverage, including the amount of the death benefit, the premiums required to maintain the policy, the conditions under which the death benefit will be paid, and any exclusions or limitations on the coverage.
  • The life insurance policy is a critical document that serves as the basis for the contractual relationship between the policyholder and the insurance company.
  • It outlines the obligations of both parties and sets out the specific terms and conditions of the insurance coverage.
  • In the event of the policyholder's death, the policy will provide the basis for the payment of the death benefit to the policy's beneficiaries.