Definition: Lincoln Life Insurance is a type of long-term life insurance policy that was created by the Lincoln Corporation in 1879, which became a subsidiary company of United States Life Insurance Company (USLIC), an agency of the U.S. Government. The company's name, "Lincoln Life," was inspired by President Abraham Lincoln and his administration, known for its commitment to freedom and social reform.
The policy provides coverage for the death or total disability of an insured person within 30 years, making it a comprehensive alternative to term life insurance policies that can only be terminated with a death or termination of employment. This type of long-term insurance is designed to provide financial security for families during challenging economic times and ensure their needs are met after the policyholder's demise.
The definition of "lincoln life insurance" focuses on its purpose, which is to provide comprehensive coverage for an insured person within 30 years of death or total disability. The term "life insurance" refers to a type of insurance that covers the loss of life due to natural causes such as accidents, disease, or่ช็ถ็พๅฎณใ In the context of Lincoln Life Insurance policyholders, they are protected against unforeseen events like illness, death, and loss of income or assets.
Overall, the key elements of the Lincoln Life Insurance policy include:
1.
Coverage
: This type of insurance provides comprehensive coverage for an insured person within 30 years of their death.
2.
Premiums
: The premiums charged by the company are based on factors such as age, sex, and health status to ensure a premium is affordable while providing adequate protection against eventualities.
3.
Term
: This policy allows the insured to terminate it at any time after 30 years.
4.
Dependability
: The insurance company ensures the premiums paid by the insured are used for the purpose intended by the insurance, which is death or total disability.
These are some of the key features that make Lincoln Life Insurance a preferred option among long-term life insurance policyholders in the United States and around the world.
closed bracket.
what should be said.