(1) That type of Life Insurance that is issued to an individual person, as opposed to group insurance. It is also called Ordinary Insurance. (2) The term used to distinguish this type of Life Insurance from Group Life Insurance.
Insurance coverage that provides a death benefit (cash) at the unexpected death of the insured. The death benefit is provided to the policyholder and/or his or her family, or business; sometimes called personal insurance as distinct from group or blanket insurance.
A Life Insurance policy that covers only one insured in the contract.