A solar array consists of one or many such panels. A photovoltaic array, or solar array, is a linked collection of solar panels. The power that one module can produce is seldom enough to meet requirements of a home or a business, so the modules are linked together to form an array.
The policy owner is the contract owner and is, in many cases, also the life insured. The policy owner has most of the rights in the contract such as the right to designate a named beneficiary and make changes to that designation at any time.
Nature of Asset. A life insurance policy is a contract between the insurance company and the person who buys it, either to insure her own life or that of someone else. The policy owner pays the premiums and in exchange, upon the death of the insured, the insurance company pays a death benefit to whomever the policy names as the beneficiary.