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.
If the owner is not the insured and the owner dies, the cash value (if any) will be included in the ownerâs estate. Glossary of Helpful Insurance Terms A life insurance policy is a legally binding contract and, as with any other contract, you need to know what the contract actually says.r a beneficiary, such as the spouse, could be the owner. In other cases, neither of these parties is the owner. This often occurs when a business buys insurance on its partners to cover the value of the insured's share of assets in the company.