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entity go
that which is perceived or known or inferred to have its own distinct existence (living or nonliving)

abstraction, abstract entity go
a general concept formed by extracting common features from specific examples

relation go
an abstraction belonging to or characteristic of two entities or parts together

possession go
anything owned or possessed

assets go
anything of material value or usefulness that is owned by a person or company

protection, security go
defense against financial failure

insurance go
promise of reimbursement in the case of loss

life insurance, life assurance
insurance paid to named beneficiaries when the insured person dies

noun.possession

3 Subcategories

endowment insurance go
life insurance for a specified amount which is payable to the insured person at the expiration of a certain period of time or to a designated beneficiary immediately upon the death of the insured
tontine, tontine insurance go
a form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members
whole life insurance, ordinary life insurance, straight life insurance go
insurance on the life of the insured for a fixed amount at a definite premium that is paid each year in the same amount during the entire lifetime of the insured