Life of Another

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Jargon Buster - Definition of Life of Another

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Life of Another

is a way of setting up an insurance policy that enables it to be owned by somebody other than the life assured. This is a popular method of assigning the benefits of a policy to somebody other than the insured and his/her family. A Life of Another policy is common for life insurance and key man insurance policies whereby the payout is required by a company or business partner.

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Please note that all definitions are intended for general guidance only. For official and current definitions you should always double check your policy wording.

If you are in doubt of the meaning of any terms, why not email us on info@topquoteuk.com

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