There are several parties involved in a life insurance contract.

Basically, life insurance is a written contract between the insurance company and the owner of the life insurance policy.

In addition, other parties that may be involved include the insured person, who may also be the owner of the policy.

There are also primary and secondary beneficiaries, who are the people that may receive the death benefit upon the death of the insured person.

Learn more about the parties to a life insurance policy.