This is unlike its predecessor which is the most common types of life insurance prevalent. Where the person on his life insurance for the benefit of someone else (others) appointed by the beneficiary of this insurance. For example, a father on his life insurance for the benefit of his wife or children.
No offense to life insurance for the benefit of third parties are subject to the provisions of the requirement for the benefit of others in terms of acceptance by the beneficiary and the right stipulated (insured) in reverse charter and the right to direct that arises to the beneficiary in the face of the contractor (insured).
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