Definition: The term "freedom of life insurance" refers to an insurance policy that provides coverage for the financial loss or damage incurred by a person who is alive due to a health condition, illness, accident, etc. In this context, "freedom of life insurance" typically means that it guarantees the payment of the premiums on time and in full, regardless of whether the insured is alive or not. The policy may also provide additional coverage if the insured dies within 60 days after being diagnosed with a serious illness or accident. The definition of "life insurance" typically includes policies covering a specific period of life that provides financial protection to the policyholder if they become sick or injured and cannot work due to the illness or injury. In this context, "freedom of life insurance" refers to the ability of an insured to continue living as long as their health is not compromised by a serious illness or accident. In summary, the term "freedom of life insurance" typically means that it provides coverage for the financial loss or damage incurred by a person who is alive due to a health condition, illness, etc., and is available if they become sick or injured.
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