Alaska Statutes 21.12.040 – Life insurance defined
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Terms Used In Alaska Statutes 21.12.040
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Life insurance is insurance on human lives. The transaction of life insurance includes also the granting of endowment benefits, additional benefits for death or dismemberment by accident or accidental means, additional benefits for the insured’s disability, and optional modes of settlement of proceeds of life insurance. Transaction of life insurance does not include workers’ compensation insurance.