MANAGEMENT

Detailed explanation-1: -If the owner dies before the insured, the policy remains in force (because the life insured is still alive). If the policy had a contingent owner designation, the contingent owner becomes the new policy owner.

Detailed explanation-2: -A life insurance policy guarantees the insurer pays a sum of money to one or more named beneficiaries when the insured person dies in exchange for premiums paid by the policyholder during their lifetime.

Detailed explanation-3: -Whole Life If the policy is surrendered, the policy owner will receive the cash value, less any surrender charge or outstanding loan.

Detailed explanation-4: -Endowment insurance provides for the payment of the face amount to your beneficiary if death occurs within a specific period of time such as twenty years, or, if at the end of the specific period you are still alive, for the payment of the face amount to you.