Life-Assurance, * An insurance of a life, upon the payment of a premium; this may be for the whole life, or for a limited time. On the death of the person whose life has been insured, during the time for which it is insured, the insurer is bound to pay to the insured. the money agreed upon. See 1 Bouv. Inst. n. 1231.
* From Bouvier's Law Dictionary, 1856 Edition. Please see Bouvier's Legal Abbreviations & Abbreviated References for help with obscure nomenclature & references.
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Life-Assurance Defined & Explained