Benefits offered to an employee, by his employer, covering such contingencies as medical expenses, disability, retirement, and death, which are usually paid for wholly or in part by the employer. These benefits are usually insured.
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The person whose life measures the duration of a trust, gift, estate, or insurance contract. Thus, in Life and Health Insurance it is the person on whose life or health the policy is written, commonly called the insured, policyholder, or policy owner.