Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money in exchange for a premium, upon the death of an insured person. Depending on the contract, other events such as terminal illness or critical illness can trigger payment; the policy holder pays a premium, either or as one lump sum. Other expenses, such as funeral expenses, can 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 written into the contract to limit the liability of the insurer. Modern life insurance bears some similarity to the asset management industry and life insurers have diversified their products into retirement products such as annuities. Life-based contracts tend to fall into two major categories: Protection policies: designed to provide a benefit a lump sum payment, in the event of a specified occurrence.
A common form—more common in years past—of a protection policy design is term insurance. Investment policies: the main objective of these policies is to facilitate the growth of capital by regular or single premiums. Common forms are whole life, universal life, variable life policies. An early form of life insurance dates to Ancient Rome; the first company to offer life insurance in modern times was the Amicable Society for a Perpetual Assurance Office, founded in London in 1706 by William Talbot and Sir Thomas Allen. Each member made an annual payment per share on one to three shares with consideration to age of the members being twelve to fifty-five. At the end of the year a portion of the “amicable contribution” was divided among the wives and children of deceased members, in proportion to the number of shares the heirs owned; the Amicable Society started with 2000 members. The first life table was written by Edmund Halley in 1693, but it was only in the 1750s that the necessary mathematical and statistical tools were in place for the development of modern life insurance.
James Dodson, a mathematician and actuary, tried to establish a new company aimed at offsetting the risks of long term life assurance policies, after being refused admission to the Amicable Life Assurance Society because of his advanced age. He was unsuccessful in his attempts at procuring a charter from the government, his disciple, Edward Rowe Mores, was able to establish the Society for Equitable Assurances on Lives and Survivorship in 1762. It was the world's first mutual insurer and it pioneered age based premiums based on mortality rate laying "the framework for scientific insurance practice and development" and “the basis of modern life assurance upon which all life assurance schemes were subsequently based”. Mores gave the name actuary to the chief official—the earliest known reference to the position as a business concern; the first modern actuary was William Morgan, who served from 1775 to 1830. In 1776 the Society carried out the first actuarial valuation of liabilities and subsequently distributed the first reversionary bonus and interim bonus among its members.
It used regular valuations to balance competing interests. The Society sought to treat its members equitably and the Directors tried to ensure that policyholders received a fair return on their investments. Premiums were regulated according to age, anybody could be admitted regardless of their state of health and other circumstances; the sale of life insurance in the U. S. began in the 1760s. The Presbyterian Synods in Philadelphia and New York City created the Corporation for Relief of Poor and Distressed Widows and Children of Presbyterian Ministers in 1759. Between 1787 and 1837 more than two dozen life insurance companies were started, but fewer than half a dozen survived. In the 1870s, military officers banded together to found both the Army and the Navy Mutual Aid Association, inspired by the plight of widows and orphans left stranded in the West after the Battle of the Little Big Horn, of the families of U. S. sailors. The person responsible for making payments for a policy is the policy owner, while the insured is the person whose death will trigger payment of the death benefit.
The owner and insured may not be the same person. For example, if Joe buys a policy on his own life, he is both the insured, but if Jane, his wife, buys a policy on Joe's life, she is the owner and he is the insured. The policy owner is the guarantor and they will be the person to pay for the policy; the insured is a participant in the contract, but not a party to it. The beneficiary receives policy proceeds upon the insured person's death; the owner designates the beneficiary. The owner can change the beneficiary. If a policy has an irrevocable beneficiary, any beneficiary changes, policy assignments, or cash value borrowing would require the agreement of the original beneficiary. In cases where the policy owner is not the insured, insurance companies have sought to limit policy purchases to those with an insurable interest in the CQV. For life insurance policies, close family members and business partners will be found to have an insurable interest; the insurable interest requirement demon
Suwara Ilkhanizada was a Kurdish poet and writer. He was born in the village of Turjan near Bukan in the north-west of Iran, his family relocated to Bukan in the summer of 1954. He continued his studies in Tabriz. In 1962, he enrolled in the judicial law department of faculty of law at the University of Tehran. In 1964, he was imprisoned for six months in Qezelqaleh prison in Tehran for his alleged ties to the Kurdistan Democratic Party of Iran, he graduated in 1968 and began working at the Kurdish service of Radio Tehran, where he presented a popular literary program called Tapo û Bomelêl. He died on January 14, 1976, after a car accident and a failed surgery operation at the Misaghiyye hospital in Tehran, he is buried at Hamamian cemetery near Bukan. Xewe Berdîne, Collection of Poems, Ashti Publishers, 1992. Tapo û Bomelêl, Ashti Publishers, 2000. Xewe Berdîne, poem Dûyi Rêbendan, Rûnakî Journal, No. 290, p. 19, Oct. 1969. To Deryamî, poem Korpey Lêwbebar, poem Şar Xêllî Diro Kiçî Beyan Sirwey Beyanî Bo Kiçe Kurdê Halow Suwara Ilkhanizada, Kurdish Language School, Mydigheten För Skolutveckling, Sweden.
Suwara Ilkhanizada, A short Biography. Suwara and Kurdish Prose, Muhammad Bahrawar, 2006
Mori is a comune in Trentino in the northern Italian region Trentino-Alto Adige/Südtirol, located about 25 kilometres southwest of Trento. Mori borders the following municipalities: Arco, Ronzo-Chienis, Rovereto, Nago-Torbole and Ala. Sights include the Sanctuary of Montalbano with the ruins of a castle, the Ravezzone Bridge. A. S. D. Mori Santo Stefano is the Italian football of the city and was founded in 1989 after the merger of Unione Sportiva Mori and Gruppo Sportivo Santo Stefano, it plays for the first time in Italy's Serie D after the promotion from Eccellenza Trentino-Alto Adige in the 2013–14 season. The president is Luigi Bertolini and the manager is Davide Zoller, its home ground is Campo Sportivo Mori with 450 seats. The team's colors are yellow and black. Official website