Vertical Available, Demo Only
Life insurance (or commonly life assurance, especially in the Commonwealth) is a contract between an insured (insurance policy holder) and an insurer or assurer, where the insurer promises to pay a designated beneficiary a 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 can also trigger payment. The policy holder typically pays a premium, either regularly or as one lump sum. Other expenses (such as funeral expenses) can also be 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.
Life-based contracts tend to fall into two major categories:
- Protection policies – designed to provide a benefit in the event of specified event, typically a lump sum payment. A common form of a protection policy design is term insurance.
- Investment policies – where the main objective is to facilitate the growth of capital by regular or single premiums. Common forms (in the U.S.) are whole life, universal life, and variable life policies.
Our MGT USA sponsors also offer the life insurance policies and tools you need to help provide for the ones you love – now and in the years to come. If you want to learn more about life insurance, please feel free to contact our sponsors or utilize the tools on their website via our MGT USA local portal. Their Life Planning tools and information will help you get up to speed on everything from the basics to advanced planning options.
Ocean City (OC or OCMD), officially the Town of Ocean City, is an Atlantic resort town in Worcester County, Maryland. Ocean City is widely known in the Mid-Atlantic region of the United States and is a frequent destination for vacationers in that area. The population was 7,102 at the 2010 U.S. Census, although during summer weekends the city hosts between 320,000 and 345,000 vacationers, and up to 8 million visitors annually. During the summer, Ocean City becomes the second most populated municipality in Maryland, after Baltimore. It is part of the Salisbury metropolitan area.
The land upon which the city was built, as well as much of the surrounding area, was obtained by Englishman Thomas Fenwick from the Native Americans. In 1869, businessman Isaac Coffin built the first beach-front cottage to receive paying guests. During those days, people arrived by stage coach and ferry. They came to fish off the shore, to enjoy the natural beauty of the Atlantic Ocean pounding against the long strip of sandy beach, to collect seashells, or just to sit back and watch the rolling surf.