"What is name of the life insurance where the insured receives a payment? How does it work? What companies?

Question

What companies are in this business?

Answer 1

The product I think you are talking about is called an endowment policy.  If you live for a specific time, you receive the face amount of the policy.  Most companies quit selling them because the IRS deemed them investments for tax purposes.  However, there are many new types of policies IUL (Indexed Universal Life) and VUL (Variable Universal Life) that will build sufficient cash value after a long period of time for you to draw some income.  As stated above, you will be better off to talk with a local agent who can discuss your needs and make suggestion about the right product.

Answer 2

It's not a company name, it's a PRODUCT.  Most life insurance companies offer a variety of products.

I think you're thinking about a rider on a life policy, where it pays out part of the face value, if you're diagnosed with a fatal illness.  Talk to a local agent to discuss coverages, premiums, and eligibility.