Simple English definitions for legal terms

life insurance

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A quick definition of life insurance:

Life insurance is an agreement between you and an insurance company. You pay the company money (called a premium) and if you die, the company will give a certain amount of money to someone you choose (called a beneficiary). It's like a promise that the company will take care of your loved ones if something happens to you. It's important to have life insurance so that your family can be financially secure even if you're not there to take care of them.

A more thorough explanation:

Life insurance is a type of contract between an individual and an insurance company. The contract promises that if the individual dies, the insurance company will pay a certain amount of money to a person that the individual has chosen. This person is called the beneficiary. The beneficiary will only receive the money if they survive the individual who has passed away. In exchange for this promise, the individual will pay the insurance company a fee called a premium.

For example, John buys a life insurance policy from XYZ Insurance Company. He designates his wife, Jane, as the beneficiary. John pays a monthly premium to the insurance company. If John dies while the policy is in effect, XYZ Insurance Company will pay Jane the amount of money specified in the policy.

Life insurance is considered a third-party beneficiary contract because the beneficiary is not a party to the agreement between the individual and the insurance company. It is also considered a type of will substitute because the assets are transferred to the beneficiary within the individual's lifetime.

life expectancy | life insurance avails


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oh its one of my least favorite things about the application process! the LSAC converts your undergrad transcript to their own scale, which goes up to a 4.3 to accommodate schools that do +/-
how do they convert? say i have a 3.25 / 4.0...do they have a formula? and is that normal for all schools now
idk how common it is, i know my undergrad didnt do +/- and i graduated a couple years ago, lemme see if i can find the LSAC's official explanation of their gpa scale. it basically includes any credit attempted even if it didnt factor into your school's calculation of your gpa, so if your school only takes the most recent grade from a retaken class, or doesn't assign value to a failed pass/fail class, etc
thank you, friend
if you have your complete unofficial transcript you cans search up some calculators online that would give you an estimate. also if you did anything for college credit in high school/like dual enrolled it would calculate that too even if your undergrad institution didn't give you a grade for it
also ahhhh its COB and i havent heard anything from georgetown and they said we'd hear back by this week lwhbrve2purbqpiubvrew
whats COB
"close of business" like the end of the business day
oh gotcha. Hope you get in
ig i dont actually know what their admissions offices hours are though
and thank you!! sorry i didnt see your last messag
*message damn i have sausage fingers today
@manifestmoreadmissions: they are rereading your application to ensure your A rn
trees ily
my gulc app never went back to app complete from decision rendered, so i'm not expecting anything from them (not yet anyway)
it would be nice if i did hear back tho lol
i also have no change but ig no news is better than bad news
adcomms? slower than anticipated? nawwwww
that Vandy WL=>A is cool though congrats
@DisillusionedHomelessWalnut: for example, UCLA does an undergrad grading scale that caps at a 4.0 for both an A and A+ grade. If you get all A+'s at UCLA, you have something in the 4.0-4.3 range according to LSAC.
My community college on the other hand, does a grading scale that goes A-, A, A+ = 4.0 so at the time I worked just to get like an A- but LSAC scales A-'s down to like 3.7.
I could be completely wrong though.
Just got my ND waitlist
Kind of sad because I even visted the school last week
that is brutal im so sorry
Ohio has not responded still
and to me its kind of crazy
[] ararara
Somebody was telling me it’s a good idea to start taking practice exams 8 weeks into 1L if your grades are decided by test taking. Thoughts?
[] ararara
@HurriedNippyPirate: just finished working, not sure if you’re on EST but it’s Friday night! Definitely idea to touch some grass. Report to your nearest dance floor! I think it’s important to take it easy sometimes.
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