Life Insurance: Overview

Life insurance  is a contract between an insured and an insurer, where the insurer promises to pay a designated beneficiary sum of money (the “benefits”) in exchange for a premium, upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger payment. The policy holder typically pays a premium, either regularly or as a lump sum. Other expenses (such as funeral expenses) are also sometimes included in the benefits.

Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; common examples are claims relating to suicide, fraud, war, riot, and civil commotion.

TripleChoicePlan presently offers group and voluntary life through Humana, Reliance Standard and UNUM.

Please click the links below for more information.

Group Life Insurance 

Voluntary Life Insurance