Definition: The word 'no physical life insurance' refers to an insurance policy that excludes or limits the coverage provided by a traditional life insurance policy, typically for a period of time beyond death. This policy may cover certain medical expenses or other incidental costs associated with living until someone's death, but it does not provide a full financial guarantee of their future lifestyle. The definition of 'no physical life insurance' can vary depending on the specific policies and terms offered by the insurer. It generally covers events that are considered to be outside the scope of normal life expectancy or where there is significant risk of injury or illness that could affect future earning potential, such as accidents in a profession or job. Some common types of no physical life insurance policies include: 1. Permanent disability coverage: This policy typically includes a set amount of money for medical expenses and lost earnings, with the option to receive this benefit if an individual is unable to work due to their condition. 2. Life expectancy coverage: This type of policy covers losses that can be attributed to events beyond a person's life expectancy, such as accidents or illnesses that happen during their lifetime. 3. Long-term disability coverage: This policy often includes a set amount of money for medical expenses and lost earnings if an individual is unable to work due to an injury or illness, but it does not cover the full cost of living until death. In summary, 'no physical life insurance' refers to an insurance policy that excludes or limits the coverage provided by traditional life insurance policies. It typically covers losses that are considered outside the scope of normal life expectancy and events beyond a person's lifetime, such as accidents or illnesses that happen during their lifetime.
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