What is life Insurance ?Life insurance coverage is an agreement between life insurance coverage company (the insurer) and policy's owner
(insured person) under the terms of a life insurance contract.Anything is in consideration
of certain payments (called the premium) to be designed to the insurer either in a lump sum or perhaps in
any other periodical payments.The insurer offers to pay a certain sum to some designated beneficiary
when insured person die, in exchange for your premium payments,this is the basic principle behind
all life insurance coverage contracts.
Life insurance may be the financial resource of the individual’s family during the happiest moments
of their life but during unhappy moments as well.
In human life death is Uncertainty,so having family means dependants, meaning financial
commitments.An amount happen if you were to lose your life suddenly or become disabled and
cannot earn.In this situation Life insurance gives some type of protection against the financial
loss and gives guarantees that your dependants will be able to continue living without financial
hazards even in case of your demise.
What is life Insurance ?There are several kinds of policies which may be available,some major types are
1 Term Life Insurance:
Term life insurance provides protection for a specified number of years. A death benefit is
paid towards the beneficiary if the insured dies within the time while the policy is in force.
2 Permanent life insurance coverage or Whole life insurance :
Permanent life insurance designed to provide protection for life.Permanent life
insurance coverage is generally designed to have a level premium.
3 Universal Life Insurance:
Universal life insurance policies differ from whole life insurance policies for the reason that they
offer some flexibility to alter the premium payments and death benefit. Despite the fact that premium
payments are flexible, the absolute minimum premium is required to keep your life insurance protection
in effect.
What is life Insurance ? 
