Definition: Met Life Insurance refers to a type of insurance policy that provides coverage for death or permanent disability following the loss of life or an illness, respectively. This type of insurance typically includes a pool of cash value which grows as the policyholder lives and is paid out to the beneficiaries upon the policy holder's death or end of their lifetime. The term "met" implies that this insurance policy meets some sort of condition - in this case, it provides coverage for someone's life. The word "life" refers to the duration of a person's life, typically from conception until they pass away. It is important to note that life insurance policies are typically issued by an insurer who will pay out premiums based on the policyholder's age and health status. The term "life" can also be applied to other types of policies such as disability or survivor benefits. The specific conditions under which a policy meets its definition varies, but generally includes someone who is in need of financial assistance due to illness or death. In summary, met life insurance refers to a type of insurance that provides coverage for the loss of life or permanent disability after death or an illness. It typically includes a pool of cash value that grows as the policyholder lives and pays out upon their death or end of their lifetime.
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